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Global Steel indicators continue to worsen as China slumps

China’s manufacturing PMI, or purchasing managers’ index, which is a key indicator of economic activity. The PMI is released on a monthly basis and is based on the diffusion indices of five components:

New orders: 30%

Inventory levels: 10%

Output: 25%

Supplier delivery times: 15%

Employment environment: 20%

China’s official PMI, which has been below 50 for two consecutive months. This trend reflects a slowdown in the Chinese economy. The country’s demand for all industrial commodities should be impacted as a result of this slowdown.

Interestingly, while the official Chinese PMI in February is below 50, the PMI data released by HSBC and Markit shows that the country’s PMI was above 50 in February.

Source – Market Realist

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