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Chinese Steel and Manufacturing Sectors Expand in September

Economy, Steel

From a 16-month high of 57.2 in August, China’s steel sector Purchasing Managers’ Index (PMI) retreated to 53.7 in September as higher raw material prices and production restrictions in some regions slowed output growth, according to data from the China Federation of Logistics and Purchasing reported by Reuters. However, this was still the fifth month in succession the sector has expanded, the longest such stretch in over five years.

 Meanwhile, the country’s official manufacturing Purchasing Managers’ Index climbed to the highest level since April 2012 in September at 52.4 as factories lifted output in response to robust domestic demand and high prices.