Steel PMI rose to 44.7%

From union steel logistics professional committee survey, released by the steel industry PMI index, continuation of the rally in July in August, at 44.7%, up 3.7% last month. But the steel industry PMI has 17 consecutive months in 50% from below, shows the status quo of the boom of the iron and steel industry downturn still continues. Main component, the new orders index rebounded to nearly four months of high and new export orders index back slightly but is still in the expansion range, finished goods inventory index after 19 months fell to shrink for the first time interval. PMI shows that the weakness of hong kong-listed positive changes have appeared before the late as currency continued easing and fiscal overweight, demand is expected to continue to improve, steel price stability is higher. This month, but notable is, high production rose to nearly four months, at the same time and production related procurement activities are also a significant rebound, indicated that the late steel mill capacity or speed up the release, resource supply will increase, and under the background of economic growth is downward, rising steel prices will also be met with resistance.