Hebei's steel PMI falls 4.5 points to hit intra-year low in July

The Purchasing Managers' Index (PMI) for the steel industry in North China's Hebei province – the country's top steel production base – fell 4.5 points on month to 42 in July, according to new data released by the Hebei Metallurgical Industry Association. This was well below the 50 threshold and showed that sentiment among steel buyers continues to contract.

Although the national steel PMI for last month is yet to be released by national index compiler the CFLP Steel Logistics Professional Committee, it's likely to show a similar downward trend, Mysteel Global predicts. During July in Hebei, the sub-index for new orders received by the province's steel mills edged down by 1.2 points from