CSLPC: China's steel PMI falls once more in November

China's Purchasing Managers' Index (PMI) for the steel industry dipped slightly in November after one-month gain in October to reach 48 last month, according to the latest release from the CFLP Steel Logistics Professional Committee (CSLPC) published on November 30. This represented a fall from the October result of 49.2 and showed that the industry contracted further last month.

The sub-index for new steel orders climbed to 48.9 in November from October's 47.6, rising for the second consecutive month but continuing to stay in the contraction zone, according to the CSLPC release. Demand for finished steel gained slightly as the pace of work on some outdoor construction projects