Hebei's steel PMI hits 2-year high of 57.3 in April

The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province -- the country’s top steel production base -- jumped 5.7 points on month to hit a two-year high of 57.3 in April, staying well above the 50 threshold that indicates expansion, according to the new data released by the Hebei Metallurgical Industry Association.

The reading was 8.1 percentage points higher than China's national steel PMI, which dipped 1.4 points from March to 49.2 in April, as reported. The divergence between Hebei's PMI and the national figure largely reflects stronger steel fundamentals in North China compared with other regions such as South China, an