China steel PMI solid

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China’s November steel PMI is out and registered a solid but not tearaway 51. New orders were better at 55.9 and new export orders flopped into the positive at 50.2:

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The chart:

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Steady as she goes for now. Slowing ahead.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.