China’s steel PMI falls for third month in August

摘要

China's steel sector purchasing managers’ index (PMI) fell by 2.2 points to 47 in August on the month as slower exports and flooding reduced steel demand and output, the China steel logistics professionals committee (CSLPC) said. Raw material prices rose quickly, slowing procure- ment cycles across mills in August. Steel demand is likely to strengthen in September, while steel production will continue to rise and steel prices may show more volatility as feedstock prices likely stay at higher levels, CSLPC said.