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Hebei Steel seasonal recovery in demand in nearly PMI 11-month high

2015/04/10

The weather gets warmer, the construction industry demand for steel began to seasonal recovery. Plus March in northern China steel prices to rebound significantly, traders and end users accelerate the pace of procurement, the province's steel market situation has improved. Provincial Metallurgical Industry Association statistics recently released show that in March this year, the province's steel industry PMI (Purchasing Managers Index) was 49.5%, the chain increased 15.5 percent, a recent 11-month high.

The sub-index, March new orders index province Steel 55.1%, the chain jumped 33 percent, the market demand for seasonal rebound. Surge in demand stimulated steel production, the province of steel output index in March was 51.2%, the chain increased 24.1 percent. Price, subject to seasonal recovery in demand and market inventory is low impact, in March the national market overall rise in steel prices, which, construction steel prices rose the most obvious. Overall steel prices, while raw material prices generally fell, affected by positive factors, the province has improved the general operation of the mill. (Hebei Daily)

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