CSLPC: China's steel PMI contracts in April

China's Purchasing Managers' Index (PMI) for the steel industry dipped slightly this month to 49.2, according to the latest release from index compiler CFLP Steel Logistics Professional Committee (CSLPC) published on April 30.

April's figure showed a minor 1.4-point on-month retreat after the spectacular recovery in March, but the decline was large enough to see purchasing sentiment return to the contraction zone below 50, the committee noted in the release. Nonetheless, the relatively high level still indicated a healthy foundation for steady operations