Optimism is rising in the Chinese steel sector, as the latest purchasing managers' index ( PMI ) revealed a 5.9 point MoM increase to 44.1 in January , marking an expansion of the sector. It followed a 13.9-point uptick in the domestic orders sub-index to 53.4 and a rise of 8.3 points to 51.5 for overseas demand. This year's winter has been warmer than usual in China, leading to fewer construction halts. Chinese steel producers have also grown stockpiles of coking coal and iron ore ahead of an expected rise in demand following winter holiday and the end of the Lunar New Year output restrictions. Anticipation of a thaw in the US - US trade war is also boosting sentiment.
Optimism is rising in the Chinese steel sector, as the latest purchasing managers' index ( PMI ) revealed a 5.9 point MoM increase to 44.1 in January , marking an expansion of the sector. It followed a 13.9-point uptick in the domestic orders sub-index to 53.4 and a rise of 8.3 points to 51.5 for overseas demand. Chinese steel producers have also grown stockpiles of coking coal and iron ore ahead of an expected rise in demand following winter holiday and the end of the Lunar New Year output restrictions. Anticipation of a thaw in the US - US trade war is also boosting sentiment.