Optimism is rising in the Chinese steel sector , as the latest project managers ' index ( PMI ) revealed a 12 point MoM increase to 51.5 in January , marking an expansion of the sector . It showed a 13.9-point uptick in the domestic demand sub - index to 53.4 and a rise of 8.3 points to 44.1 for overseas demand . Chinese steel producers have also grown stockpiles of coking coal and iron ore ahead of an expected rise in demand following the end of the Lunar New Year holiday and winter output restrictions . The steel production sub-index rose by 2.2 points at 46.8, indicating output contracted at a slower pace this month than in December, said the China Steel Logistics Professionals Committee (CSLPC), which compiles the index. Anticipation of a thaw in the US - China cold war is also boosting sentiment .
Optimism is rising in the Chinese steel sector , as the latest project managers ' index ( PMI ) revealed a 12 point MoM increase to 51.5 in January , marking an expansion of the sector . It showed a 13.9-point uptick in the domestic demand sub - index to 53.4 and a rise of 8.3 points to 44.1 for overseas demand . Chinese steel producers have also grown stockpiles of coking coal and iron ore ahead of an expected rise in demand following the end of the Lunar New Year holiday and winter output restrictions . Anticipation of a thaw in the US - China cold war is also boosting sentiment .