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The China Steel Logistics Committee (CSLC), a division of the China Federation of Logistics and Purchasing (CFLP), declared that in May of this year, the purchasing managers index (PMI) for the Chinese steel industry was 49.8%, which is 1.9 percentage points higher than the record set in April.
Furthermore, the new order index rose by 2.2 percentage points from April to 49.6% in May. The new export order index was above 50% for the third consecutive month in May, with a percentage point drop of 0.8 from April to 52.2%.
In the given month, the production index for the Chinese steel sector stood at 50.6 percent, 0.9 percentage points higher than in April, and was above 50.0 percent, which indicates that production activities have been expanding.
In May, the index of raw material purchase prices stood at 77.5 percent, 21.6 percentage points higher than in April, expanding significantly for the second consecutive month.
As for June, production of steel will likely move on a steady trend amid the hot weather and the stimulus policies for the real estate sector issued by China. It is thought that steel prices are unlikely to indicate a rising trend in June, but will edge down slightly.
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