CSLPC: China's Apr steel PMI falls second month to 45

In April, China's Purchasing Managers' Index (PMI) for the steel industry declined for the second successive month, falling by another 3.4 percentage points on month to 45, as both steel demand and production slackened, raw materials prices softened significantly and finished steel prices turned sharply lower, according to a release by the authorized index compiler CFLP Steel Logistics Professional Committee (CSLPC) on April 30.

The sub-index for new steel orders for both domestic sales and exports in April reversed down after four months of rises, slipping by 10.3 percentage points on month to 39.9 – well below the threshold of 50 and indicating that the steel business seriously contracted last month. CSLPC explained