In February this year, the purchasing managers index (PMI) for the Chinese steel sector was at 45.1 percent, 1.8 percentage points higher than that recorded in January 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 February, the new order index stood at 40.2 percent, 1.5 percentage points lower than in January.
In February, the production index for the Chinese steel sector stood at 45.6 percent, 3.1 percentage points higher than in January.
In February, the raw material purchase price index stood at 35.7 percent, 13.7 percentage points higher than in January, ending the year-on-year decline during the previous three months.
In February, the raw material purchase volume index stood at 41.6 percent, 6.1 percentage points lower than in January.
As for March, the demand for finished steel is expected to rebound amid the traditional peak season, which will bolster steel prices firmly.