China's steel PMI edges down in February

Time:2020-03-09 09:07:51      Source:Xinhuanet.com
China's steel sector slowed down in February as market demand weakened amid the outbreak of the novel coronavirus, a report from the China Federation of Logistics and Purchasing (CFLP) showed.
 
The purchasing managers' index (PMI) for China's iron and steel industry came in at 36.6 in February, down from 47.1 in January, according to the CFLP Steel Logistics Professional Committee.
 
A reading above 50 indicates expansion, while a reading below reflects contraction.
 
The report attributed the slowdown to the weak demand during the epidemic, noting that production and business activities of steel companies slowed down last month while steel inventory was on the rise.
 
The committee expected the steel industry to gradually return to a normal track as the epidemic situation improves and infrastructure investment warms up.
 
China's steel market witnessed hot demand in 2019 thanks to the steady operation of infrastructure building, real estate and other downstream industries.
 
Steel consumption totaled about 880 million tonnes in 2019, up 6 percent year on year from 2018, according to the China Iron and Steel Industry Association.
 
 
 
Index RMB/t DoD Basis Date
Datong 5500 700 0 ex-mine 05-04
Shuozhou 5200 680 0 FOR 05-04
Ordos 5500 700 0 ex-mine 05-04
Yulin 6200 780 0 ex-mine 05-04
Liulin Low-sulphur 900 0 ex-mine 05-04
Gujiao Low-sulphur 1770 -50 FOR 05-04
Xingtai Low-sulphur 2360 0 ex-Factory 05-04
Yangquan PCI 1280 -30 FOR 05-04
Index RMB/t WoW WoW% Date
Qinhuangdao 507.0 1.0 0.20 05-04
Caofeidian 541.0 9.0 1.69 05-04
Huanghua 216.9 12.4 6.06 05-04
Guangzhou 291.2 3.0 1.04 04-27
coastal 6PPs 1629.8 44.7 2.82 07-02
North Ports 2697.8 53.0 2.00 02-01
Yangtze River delta 1242.5 -74.7 -5.67 02-01
South Ports 2233.4 -216.0 -8.82 02-01
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