China Economy Commodities Featured Article Iron ore price

China’s steel PMI goes boom!

Wednesday, 31 May 2017

It ain’t over ’til it’s over. China’s steel PMI is out today and printed big at 54.8 with new orders ripping higher to 60.5 from 46.9 last month. Output was also thumping along at 58.2 up 2 points:

Dalian iron ore is still sagging but not on this data!

Always bear in mind that this is a very volatile and fast-moving index but for May at least it was all good for steel mills.

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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.