Special report: China's steel PMI hits five-month high

摘要

China's steel purchasing managers' index (PMI) rebounded by 1.2 basis points in October to 50.7 - a five-month high, according to the index compiler CFLP Steel Logistics Professional Committee (CSLPC). Sentiment last month was better than CSLPC had expected, the committee said November 1. The revival was mainly due to improved domestic steel demand and increases in steel prices that were strongly supported by the surging coking coal price and the firm iron ore price, the committee explained.