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Chinese Steel PMI Extends Rise

Economy, Steel

China’s steel sector Purchasing Managers’ Index (PMI) rose to 45.9 in April from 42.2 in March with demand and output improving as the country emerges from the coronavirus lockdown, data from the China Steel Logistics Professional Committee show. However, readings have remained below 50.0, which marks the boundary between expansion and contraction, since June 2019.

The country’s official manufacturing PMI posted growth for a second consecutive month, but declined to 50.8 in April from 52.0 in March (highest since September 2017), according to the National Bureau of Statistics.