Hebei's steel PMI rises slightly in November

The Purchasing Managers' Index (PMI) for the steel industry in North China's Hebei province, the country's top steel production base, nudged up by 0.3 basis point on month during November to sit at 49.1 but remained in the contraction zone below the threshold of 50, according to the latest data released by the Hebei Metallurgical Industry Association.

The index was 1.1 basis point higher than China's national steel PMI released by the CFLP Steel Logistics Professional Committee on November 30 that had dipped by 1.2 basis points on month to register 48 in November, as Mysteel Global reported. The sub-index for new orders received by Hebei's steel mills rose by 2.6 basis points on month to 48.7 last month, the association's data showed. Although November typically marks an off-peak month