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China’s steel sector activity slips back into contraction in June, weaker demand pushes up inventories

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Chinese steelmaking sector slipped back into contractionary territory in June, with the PMI for the sector falling to 49.3 from 50.9 in the previous month, according to the China steel logistics professionals committee (CSLPC).

The index rose above the level of 50 in May this year for the first time since May 2019.

Steel production picked up while market demand weakened, pushing up steelmakers' inventories. Meanwhile, prices for raw materials such as iron . . .

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