Hebei Steel Industry PMI Rebounded For 3 Consecutive Months

Learned from Hebei Metallurgical Industry Association, in May, Hebei's steel industry PMI was 53.9%, an increase of 5.2 percentage points, rising for 3 consecutive months.

In May, the new order index of Hebei iron and steel industry was 55.8%, an increase of 10.2 percentage points, the output index was 57.8%, the annulus ratio rose 5.3 percentage points, the finished product inventory index was 43%, the annulus ratio dropped 2.3 percentage points, the raw material inventory index was 48.7%, the annulus ratio rose 2.7 percentage points, the raw material purchase price index was 64.5%, and the annulus rose by 20.5 percentage points.

Industry analysts believe that, with the "six guarantees", "six stability" policy to push forward, the resumption of production and speed up the pace of accelerated economic activities gradually normalized, the steel industry chain supply chain stable operation, domestic steel prices overall showing a trend of shock. From the May index, production of Hebei iron and steel enterprises increased slightly, downstream orders continued to improve, finished product inventory kept falling down, cost support was obvious, and the characteristics of industry running peak season were obvious. Looking ahead, the domestic macro-economy continues to improve, but the consumption of steel market is shifting from the traditional peak season to the off-season. The downstream demand for steel is difficult to maintain a high growth trend, and domestic steel prices are expected to shake up.