China’s steel industry activities remained in contraction in Sept – industry body 
COMMODITIES DATA
China’s steel industry activities remained in contraction in Sept – industry body 
COMMODITIES DATA

China’s steel industry activities remained in contraction in Sept – industry body 

 

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Chinese steel industry’s PMI reached 45.8% in September, remaining in the contractionary territory but picking up by 0.6 percentage points from the previous month, according to the China Steel Logistics Professional Committee of the China Federation of Logistics & Purchasing.

Sub-indexes showed that steel market demand improved slightly, the overall steel production declined further, the prices of raw materials rose at a faster pace, while steel prices range-bounded, showed the data. 

Looking ahead, steel market demand is expected to rebound in October, though the room for the rebound remains to be seen, said the committee. 

Steel production will likely remain largely steady with slight decline, raw materials’ price are expected to decline from high levels, while steel prices will likely trend higher, it said.