In August this year, the purchasing managers index (PMI) for the Chinese steel sector was at 40.4 percent, 2.1 percentage points lower than that recorded in July this year, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
Moreover, in August, the new order index stood at 38.5 percent, 1.8 percentage points lower than in July.
In August, the production index for the Chinese steel sector stood at 34.9 percent, 3.6 percentage points lower than in July, indicating a decline for the third consecutive month.
In August, the index of raw material purchase prices stood at 19.6 percent, 1.2 percentage points lower than in July, standing at around 20 percent for the second consecutive month.
In August, the index of finished steel inventory stood at 50.6 percent, 3.8 percentage points lower than in July, declining month on month, while remaining above 50 percent.
As for September, demand is anticipated to improve in the traditional peak season amid the easing of the hot and rainy weather conditions. It is thought that finished steel prices will likely rebound in September.