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Chinese Steel Sector PMI Rebounds

Economy, Steel

China’s steel sector Purchasing Managers’ Index (PMI) rebounded to a 13-month high of 54.8 in May, up from 49.1 in April, as a sharp rise in new orders encouraged mills to lift output, according to the China Federation of Logistics and Purchasing Reuters reports.

 

Meanwhile, the country’s official manufacturing PMI for May was unchanged from April at 51.2.