China's steel industry PMI records 43.9% in Sep
2020-10-13 15:20:05 [Print]
According to the latest report released by CFLP Steel Logistics Professional Committee, the steel industry PMI recorded 43.9% in September, a decrease of 3.1 percentage points from the previous month, and the fourth consecutive month of decline. In February this year, due to the impact of COVID-19, the steel industry PMI fell by 10.5 percentage points. The recovery of the steel industry accelerated from March to May, and the index continued to rise.
The sub index showed that the market demand is lower than expected, the steel production has decreased correspondingly, the price rise of raw materials has obviously slowed down, and the overall steel market presents a pattern of sluggish peak season. However, enterprises still have expectations for the future market, and the purchase volume and inventory of raw materials have increased steadily. According to the report, there is still room for market demand to rise in October, and the production of steel mills will pick up in a short time, but the total output in the fourth quarter might decline month on month.
The sub index showed that the market demand is lower than expected, the steel production has decreased correspondingly, the price rise of raw materials has obviously slowed down, and the overall steel market presents a pattern of sluggish peak season. However, enterprises still have expectations for the future market, and the purchase volume and inventory of raw materials have increased steadily. According to the report, there is still room for market demand to rise in October, and the production of steel mills will pick up in a short time, but the total output in the fourth quarter might decline month on month.
