More mills included in sampling pool for China’s steel PMI

More than 30 Chinese steelmakers were recently included in the country’s steel purchasing managers’ index’s pool of sample mills.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Among them are major steelmakers such as Hebei Iron & Steel, Nanjing Iron & Steel and Tonghua Iron & Steel, the China Federation of Logistics & Purchasing (CFLP), which publishes the index, said at an industry conference over the weekend.

A majority of the newly included mills are small to medium-sized steelmakers, including Shanxi province’s Haixin Steel, a private mill with 6 million tpy of steelmaking capacity.

“We are expanding the pool of sample mills to ensure that the steel PMI could be more representative of the market, and could play a more important role in monitoring and forewarning for the steel industry,” Wang Jianzhong, secretary-general of CFLP, said at the conference.

The steel PMI is published by CFLP on the first day of every month to indicate movement in the steel market.

The index for December was 47.7 points. It was calculated based on data from 108 mills, including eight small to medium-sized mills that joined the sampling pool in October 2013.

What to read next
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.