China Feb. steel PMI up 2.1 percentage points m-o-m to 45.1pct, CFLP
BEIJING, Mar. 2 (Xinhua) -- The purchasing managers' index (PMI) tracking China's iron and steel sector advanced 2.1 percentage points month on month to 45.1 percent in February, marking the highest in recent four months, according to data released by the China Federation of Logistics and Purchasing(CFLP) on Sunday.
Despite the rise, the figure was still under the 50-percent level demarcating growth from contraction, indicating the still sluggish industrial climate.
The sub-index for production in February was unchanged from that in January, while sub-index for new orders and sub-index for new export orders in February bottomed out.
The February's sub-index for finished product stocks fell slightly from a high level, according to the PMI data.
The figures show an improvement in supply and demand of the domestic steel market at present. Given the expectation of easing policies and seasonal factors, the domestic steel market will likely recover, say analysts. (Edited by Hu Pingchao, firstname.lastname@example.org)