In May this year, the purchasing managers index (PMI) for the Chinese steel sector was at 50.9 percent, down 6.4 percentage points 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 decreased by 6.7 percentage points compared to the previous month to 53.7 percent. Meanwhile, in May the sub-index for new orders saw a decrease of 12.9 percentage points month on month to 52.7 percent.
In the given month, the finished steel inventory index increased to 50.2 percent, up 15.3 percentage points month on month, the index for new export orders saw a month-on-month increase of 5.6 percentage points to 58.1 percent, while the purchase price index in the Chinese steel sector stood at 60.9 percent, indicating a decrease of 14.4 percentage points month on month.