The China steel PMI for October is out as well and is solid at 50.7. New orders were good at 54.6 though exports are clearly being hit by higher prices if not protection:
Oct. Sept. Aug. July June May April
2016 2016 2016 2016 2016 2016 2016
—————- Index ——————
Steel Industry PMI 50.7 49.5 50.1 50.2 45.1 50.9 57.3
Output 50.7 50.2 50.5 50.1 42.5 53.7 60.4
New Orders 54.6 49.2 52.1 50.5 43.3 52.7 65.6
New Export Orders 48.0 49.8 57.0 55.7 51.3 58.1 52.5
Inventories of Finished Goods 48.4 52.5 49.6 52.0 49.3 50.2 34.9
Inventories of Raw Materials 48.2 51.0 49.8 52.0 49.2 48.4 54.6
—— Month-on-month level change —–
Steel Industry PMI 1.2 -0.6 -0.1 5.1 -5.8 -6.4 7.6
Output 0.5 -0.3 0.4 7.6 -11.2 -6.7 10.6
Oct. Sept. Aug. July June May April
2016 2016 2016 2016 2016 2016 2016
—— Month-on-month level change —–
New Orders 5.4 -2.9 1.6 7.2 -9.4 -12.9 12.3
New Export Orders -1.8 -7.2 1.3 4.4 -6.8 5.6 15.6
Inventories of Finished Goods -4.1 2.9 -2.4 2.7 -0.9 15.3 -2.8
Inventories of Raw Materials -2.8 1.2 -2.2 2.8 0.8 -6.2 2.0
