In October this year, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province increased to 50.7 percent, up 5.0 percentage points month on month, above 50 percent for the first time in the past four months, as announced by the Hebei Province Metallurgical Industry Association (MIA). In the given month, the trend of the PMI for the steel sector in Hebei Province was the same as that for the whole of China, which rose by 5.6 percentage points month on month to 54.6 percent, as announced by the China Steel Logistics Committee (CSLC).
In October, the overall new order index for Hebei Province’s steel sector increased to 53.7 percent, up 12.2 percentage points compared to the previous month.
In the given month, the new export order index for Hebei Province’s steel sector increased to 52.4 percent, up 0.1 percentage points month on month.
In the given month, the production index for Hebei Province’s steel sector rose to 53.7 percent, up 3.7 percentage points month on month. Finished steel prices saw a rebounding trend in October, making steelmakers more willing to produce.
At the same time, the inventory index for finished steel in Hebei Province decreased to 37.2 percent, down 19.2 percentage points month on month.
In September, the inventory index for raw materials in Hebei Province stood at 40.5 percent, down 2.4 percentage points month on month.
In October, prices of iron ore, coke and scrap prices moved up, resulting in rises in the purchasing price index for raw materials, which stood at 63.1 percent, up 35.7 percentage points from September.
Steel prices in Hebei Province are anticipated to edge down in November amid the approach of the traditional offseason.