CSLPC: China's steel PMI holds largely steady in June

China's Purchasing Managers' Index (PMI) for the steel industry remained largely steady in June at 47.8, according to the latest release from index compiler CFLP Steel Logistics Professional Committee (CSLPC) issued on June 30.

The figure was lower by a marginal 0.1 points from May and stayed in the contraction zone below 50, reflecting the deepening off-season pressures and lingering softness of steel industry fundamentals, the committee noted in the release. It blamed weather events for impacting domestic steel consumption during the month. China's