China steel PMI hits 51.6% in June, seasonal lull looms

摘要

China's steel purchasing managers' index, or PMI, in June edged up 1 basis point from May to 51.6, according to the latest statement from index compiler CFLP Steel Logistics Professional Committee. The index was above 50 points for the fourth consecutive month. It showed that China's steel sector remained robust, though the rainy and hot summer season dampened demand from end-users to some extent. Meanwhile, China?s steel mills enjoyed high profit margins in June despite rising production costs.