Hebei's iron &steel PMI edges down in July
2018-08-03 15:36:44 [Print]
According to data released by Hebei Metallurgical Industry Association on 1 August, the iron & steel PMI of Hebei Province was 45.8% in July, down by 2.4% from last month. The figures of both June and July were below the critical value of PMI and EEI (entrepreneur expectation index).
The new orders index reached 49.4% in July, up by 1.1% from the previous month, demonstrating that downstream demand of iron & steel industry remained strong in this month, the slack season, and the market saw relatively active transactions. The new export orders index was 5.2%, up by 4.6% compared with that of June. The periodical upward trend resulted from increased international prices for steel. Steel export is expected to decrease in short term as Chinese steel prices stand at high level and uncertainties of sino-U.S. trade war exert influences on export of iron & steel.
The output index of July stood at 40.2%, down by 5.2% on a month-on-month basis, indicating that production resumption was limited in Hebei Province affected by environmental policies. Finished product inventory level was 33.3%, down by 11.1% from June, while the raw material inventory level decreased by 6.00% from June to 40.7%, showing that steel plants in Hebei Province purchased raw materials cautiously as output remained limited due to environmental inspections.
The new orders index reached 49.4% in July, up by 1.1% from the previous month, demonstrating that downstream demand of iron & steel industry remained strong in this month, the slack season, and the market saw relatively active transactions. The new export orders index was 5.2%, up by 4.6% compared with that of June. The periodical upward trend resulted from increased international prices for steel. Steel export is expected to decrease in short term as Chinese steel prices stand at high level and uncertainties of sino-U.S. trade war exert influences on export of iron & steel.
The output index of July stood at 40.2%, down by 5.2% on a month-on-month basis, indicating that production resumption was limited in Hebei Province affected by environmental policies. Finished product inventory level was 33.3%, down by 11.1% from June, while the raw material inventory level decreased by 6.00% from June to 40.7%, showing that steel plants in Hebei Province purchased raw materials cautiously as output remained limited due to environmental inspections.
