China’s steel purchasing managers’ index, or PMI, fell by 2.3 basis points from November to 43.1 in December due to weaker steel market conditions, according to data from index compiler CFLP Steel Logistics Professional Committee released Friday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The December reading meant the average steel PMI in 2019 was 47.2 points, down 3.5 basis points from 2018. The sub-index for steel production was 0.7 basis points higher on the month in December at 44.1, while the sub-index for raw materials prices increased by 0.6 basis points on the month to 47 in December, mainly driven by restocking before China’s Lunar New Year holiday. The sub-index for new steel orders in December fell 7.6 basis points from the month before to 36.2 in December. The sub-index has been below the neutral threshold of 50 points for the […]