China July steel PMI slipped marginally to 49.2%

China’s Purchasing Managers’ Index for the steel industry remained generally stable in July, inching down by only 0.1 basis point on month to 49.2, indicating that the nation’s steel industry remains steady amid slowing production growth and average demand, according to the latest release by CFLP Steel Logistics Professional Committee (CSLPC) published on July 31.

The frequent rains and floods, particularly in southern areas of China, had caused work on construction projects to slow in July which dampened steel demand, with the sub-index for new orders hovering below the threshold of 50, recording 47.7 basis points for the month, CSLPC said.
Source: Mysteel