Steel PMI decreased to 38.3% in October

According to the latest data released by China Federation of Logistics & Purchasing (CFLP) and NBS, the Purchasing Managers’ Index (PMI) of manufacturing industry was 49.2% in October, 0.4 percentage points lower than that in September.

        New order index (NOI) was 48.8% in October, 0.5 percentage points lower than that in September. Production index decreased by 1.1 points to 48.4% in October. Stock index of raw materials was 47%, 0.2 percentage points lower than September.

        The PMI of steel industry was 38.3% in October, 6.7 percentage points lower than that in September. New order index was 28.2% in October, 10.8 percentage points lower than that in September. The new export order index decreased by 0.8 percentage points to 38.7% in October. Production index decreased by 9.2 percentage points to 36.8%. The procurement price index of raw materials was 60%, 8.4 percentage points higher than that in September. Stock index of raw materials was 37.1%, 2 percentage points lower than that in September. The stock index of steel products decreased by 4.1 points to 30.8%.