China's steel industry PMI records 49.3% in Jun
2020-06-30 16:54:15 [Print]
According to date released by CFLP Steel Logistics Professional Committee, the steel industry PMI in June posted 49.3%, down by 1.6 percentage points from last month. The recovery trend speeding up in early days slowed down to some extent.
The sub index showed that steel production rose rapidly while market demand weakened, so the structural contradiction between supply and demand emerged, leading to the increase of steel mill inventory again. The price of raw materials maintained an upward trend, and enterprise slightly decreased purchases with their expectation for the future market declining. It is expected that in July, the market demand may be rise after falling, steel production would maintain a month on month growth, and the price of raw materials may decline.
The sub index showed that steel production rose rapidly while market demand weakened, so the structural contradiction between supply and demand emerged, leading to the increase of steel mill inventory again. The price of raw materials maintained an upward trend, and enterprise slightly decreased purchases with their expectation for the future market declining. It is expected that in July, the market demand may be rise after falling, steel production would maintain a month on month growth, and the price of raw materials may decline.
