China’s Oct steel PMI scores 52.1 on firmer fundamentals

5-Nov-2018

The Purchasing Managers’ Index for China’s steel industry recovered, though by merely 0.1 basis point, to 52.1 for October because of the healthier fundamentals with stronger domestic demand and the firming in steel prices and higher production in accordance, according to the latest release on October 31 by the official index compiler – CFLP Steel Logistics Professional Committee (CSLPC).

The sub-index for new steel orders from the domestic market reversed up 3.4 basis points to 52.3, as demand from South China was rather robust with construction sites being accelerating the pace when the weather was still pleasant, and construction sites in North China has yet been halted despite temperature drops.

Source: MYSTEEL