In May this year, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province decreased to 44.6 percent, down 10.5 percentage points month on month, as announced by the Hebei Province Metallurgical Industry Association.
In May of the current year, the overall new order index for Hebei Province's steel sector stood at 43.1 percent, down 22.4 percentage points compared to the previous month. Meanwhile, the new export order index for the sector was at 58.3 percent, rising by 4.8 percentage points month on month. In the given month, the production index for Hebei Province's steel sector was at 47.4 percent, decreasing by 11.7 percentage points month on month. In May, the inventory index for finished steel in Hebei Province increased to 48.6 percent, up 18.8 percentage points month on month. In addition, the raw material inventory index in Hebei Province decreased to 42.1 percent, down 5.6 percentage points month on month.