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Chinese Steel Sector PMI Eases in July

Economy, Steel

China’s steel sector Purchasing Managers’ Index (PMI) inched down to 49.2 in July (-0.1 on the month), according to the China Steel Logistics Professional Committee (CSLPC), flooding in the south of the country impacted some activity. A reading below 50.0 indicates contraction.

Meanwhile, the country’s official manufacturing PMI rose to 51.1 in July from 50.9 in June, data from the National Bureau of Statistics show.