In October this year, the purchasing managers index (PMI) for the Chinese steel sector was at 54.6 percent, 5.6 percentage points higher than that recorded in September this year, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
Moreover, in October, the new order index stood at 55.5 percent, 8.3 percentage points higher than in September.
In October, the production index for the Chinese steel sector stood at 63.6 percent, 8.8 percentage points higher than in September.
In October, the index of raw material purchase prices stood at 56.6 percent, 28.8 percentage points higher than in September.
As for November, demand for steel may slacken following the end of the peak season. In northern China, the weather will continue to get colder, which will exert a negative impact on the demand for steel. However, the situation in the real estate sector is anticipated to improve, which will bolster demand for steel to a certain degree. It is thought that steel prices may fluctuate within a limited range in the coming week.