Hi, please login. Free Register Client Center
Packages Subscription Shopping Cart
Favorite
Online Support
APP

China's steel PMI falls to 40.1 in Nov

sxcoal.com General 2022-11-30 11:30:27

The Purchasing Managers' Index (PMI) in the steel sector, an economic indicator for the industry, declined by 4.2 to 40.1 in November, down for the second straight month, according to the latest data released by the China Steel Logistics Professionals Committee (CSLPC).


This was mainly ascribed to lukewarm demand from construction and manufacturing factories amid COVID flare-ups and seasonal weakness. Major steel-consuming sector real estate remained at a low ebb amid tight cash flows and debt crisis.


New order index declined significantly by 8.9 month on month to 34.5 in November, data showed.


Lukewarm demand together with environmental inspections still restrained steel production, with the index at 39.3 down below 40 for the second straight month.


Steel prices remained on the decline, but at a slower rate, partly due to the policy stimulus pack. Shanghai rebar price index rebounded to 3,701 yuan/t on November 25 after hitting the intra-month low of 3,605 yuan/t, which was also the lowest so far in the year.


The sub-index for material buy prices stood at 38, down 1.9 from October and marking the third month of decline.


The CSLPC expected steel demand would continue to decline, steel production to further slide, steel prices would stay at low levels, and raw material prices may remain on the downtrend in December.


(Writing by Emma Yang  Editing by Tammy Yang)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

All rights reserved. No reproduction is allowed without written permission.

Related Articles

Editor's Pick

1 China's portside thermal coal prices stable; Indonesia coal demand up 2023-03-16

Thermal coal prices stayed stable at northern China ports for the fourth consecutive day, with no clear trends formed, leaving both sellers and buyers to sit on the sidelines for more clues.

2 China's coking coal market moves sideways amid prudent buys 2023-03-16

China's coking coal market remained steady on March 16, yet sentiment further softened owing to rebounding production and sustained prudent buying from coke firms. On March 16, the

3 China's thermal coal mine-mouth prices remain flat on balanced production-sales 2023-03-16

Thermal coal prices at China's major production areas moved sideways amid weak demand, thanks to steady shipment to long-term contract buyers. Though miners expressed pessim

4 Colombia's Drummond Feb coal exports up 4% on yr 2023-03-16

Colombia's largest coal producer Drummond exported 2.35 million tonnes of coal in February, up 4% from a year earlier and nearly 27% from a month ago, data from the company showed, mainly driven by a

5 India's utility HPCGCL issues tender for imported coal 2023-03-16

India's power producer Haryana Power Generation Corporation Limited (HPCGCL) issued a tender seeking up to 587,000 tonnes of seaborne thermal coal for its three power plants, according to a latest ten

6 China's met coke market flatness and reasons behind 2023-03-16

China's met coke market has been relatively stable after the Chinese New Year holidays, with proposals by either steel mills to further lower prices or coke makers more recently to raise prices failin

7 China Coal Daily Track (Mar 16) 2023-03-16

Thermal coal Production area Prices were generally steady. Miners could still strike a balance between production and sales, as they mainly dispatched coal for term contracts. Some power plan

8 Review: S Korea's Feb coal imports fall 2.2% on yr 2023-03-16

South Korea's coal imports fell to a four-month low in February as warmer-than-normal weather reduced the country's coal demand and declined natural gas prices cut back coal consumption for power gene

9 Mongolian export coal E-auction schedule over Mar 17-20 2023-03-16

Schedule of Mongolian coal e-auction on Mongolian Stock Exchange over Mar 17-20, 2023 Seller Name Coal Type Quan

10 China thermal coal market in figures (Mar 16) 2023-03-16

China thermal coal market key figures in focus. The latest data for thermal coal prices, stocks, shipments in major production areas, transfer ports and most followed downstream sector data.

Most Read Articles

1 Mongolia Feb coal exports up 21.7% MoM 2023-03-10

Mongolia's coal exports totaled 7.83 million tonnes during January-February 2023, up 6.54 million tonnes or 504.01% year on year, showed data from the Mongolian Customs General Administration (MCGA).

2 Indonesian thermal coal prices move higher amid solid Chinese demand 2023-03-10

Indonesian thermal coal prices increased as Chinese buyers cranked up purchases to boost inventories before a potential supply shortage in the fasting month of Ramadan that starts in late March.

3 Indonesia officially lunches new formula for coal reference price 2023-03-14

Indonesia's Ministry of Energy and Mineral Resources (ESDM) has officially revised the formula for coal reference price (HBA) as stated in the Decree of the Minister of Energy and Mineral Resources co

4 Chinese coking coal miners' inventory fall, yet prices still under pressure 2023-03-10

Coking coal inventories held by Chinese mining firms extended decline into the second week, yet this seems not enough to reverse the downtrend of prices against growing prudence among buyers.

5 India to step up efforts to ensure sufficient power supply in summer 2023-03-10

India is expected to step up efforts to ensure power supply during peak months of April and May, in a bid to avoid power cuts amid surging demand. The country's power ministry said on Mar

6 "Two Sessions" members call for stable coal supply, quicker capacity approval 2023-03-14

Two members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body, have called for reliable coal supply and streamlined

7 Weekly global coal market news summary (Mar 6-Mar 10) 2023-03-10

India to step up efforts to ensure sufficient power supply in summer India is expected to step up efforts to ensure power supply during peak months of April and May, in a bid to avoid power

8 Thermal coal prices diverged in N China as sales differ regionally 2023-03-10

Thermal coal prices in northern China presented diverged trend on March 10 as miners with increased trucks for coal loading raised offers up by 10-30 yuan/t, and those saw the opposite continued to

9 Infographic | China Taiwan coal imports in Feb 2023 2023-03-13

Infographic | China Taiwan coal imports in Feb 2023

10 China's coking coal prices slide; coke price hike call fades 2023-03-13

The ongoing stalemate between coke producers and steelmakers over the first round of coke price hike has started to add bearishness to the coking coal market. Coke firms continued to limi

Follow Us

coal,coal price,coke,China coal,coking coal,thermal coal coal,coal price,coke,China coal,coking coal,thermal coal coal,coal price,coke,China coal,coking coal,thermal coal coal,coal price,coke,China coal,coking coal,thermal coal

Privacy Policy | Terms of Use | Site Map | About Us | Contact Us | Join Us

Shanxi Fensheng Information Services Co., Ltd.

Phone：+86-351-7219322  （Business Hours 08:30-18:00 GMT+8）

Fax：+86-351-4728543