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China Manufacturing and Steel Sector PMI

Economy, Steel

China’s manufacturing Purchasing Managers’ Index (PMI) fell slightly to 51.4 in December, down from 51.7 in November, although this was still the fifth consecutive monthly expansion in activity, according to National Bureau of Statistics data. Meanwhile, the country’s steel sector PMI, assessed by the China Federation of Logistics and Purchasing, declined sharply to a five-month low of 47.6 in December. Daily crude steel output at China Iron and Steel Association (CISA) member mills dropped to the lowest level since July in the period 11-21 December at 1.66 Mt, U-metal reports.