In May this year, the purchasing managers index (PMI) for the Chinese steel sector was at 50.6 percent, down 1.1 percentage point as compared to April, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
In addition, in May the production index for the steel sector increased by 1.6 percentage points compared to the previous month to 52.9 percent. Meanwhile, in May the sub-index for new orders in the steel sector saw a decrease of 4.3 percentage points month on month to 51.6 percent.
In the given month, the finished steel inventory index decreased to 48.2 percent, down 1.0 percentage point month on month, the index for new export orders saw a month-on-month decrease of 3.1 percentage points to 42.5 percent, while the purchase price index of raw materials in the Chinese steel sector stood at 51.3 percent, indicating an increase of 6.0 percentage points month on month.