The ferrous complex was hammered on September 1, 2022:
China’s steel PMI has bounced:
Judging from the steel industry PMI surveyed and released by the China IOT Steel Logistics Professional Committee, August 2022 was 46.1%, a month-on-month increase of 13.1 percentage points, indicating that the continuous tightening of the steel market has slowed down and the industry has recovered. Judging from the changes in the sub-indexes, the downward trend of market demand has slowed down, and the production of steel mills has recovered, but the supply and demand sides remain weak. Steel prices rebounded slightly, and raw material prices stopped falling and rebounded. It is expected that in September, the demand for steel will continue to improve, but the room for improvement may be limited. The production of steel mills will continue to recover, and the price of steel may fluctuate slightly.
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