In February this year, the purchasing managers index (PMI) for the Chinese steel sector was at 49.0 percent, up 2.3 percentage points as compared to January this year, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
In addition, in February the production index for the steel sector increased by 3.9 percentage points compared to the previous month to 49.5 percent. Meanwhile, in February the sub-index for new orders saw an increase of 1.0 percentage points month on month to 50.9 percent.
In the given month, the finished steel inventory index increased to 44.8 percent, up 10.4 percentage points month on month, the index for new export orders saw a month-on-month decrease of 4.7 percentage points to 46.2 percent, while the purchase price index in the Chinese steel sector stood at 49.9 percent, indicating an increase of 11.1 percentage points month on month.