Steel PMI in January 2022 shows that the market sentiment has picked up and the steel industry is off to a good start
Judging from the steel industry PMI surveyed and released by the China IOT Iron and Steel Logistics Professional Committee, in January 2022, it was 47.5%, an increase of 8.8 percentage points from the previous month, and the steel market boom has rebounded.
The sub-indices show that in January, the steel industry made a good start, steel production and procurement activities increased, corporate expectations were more optimistic, the demand for winter storage was released, the overall steel inventory increased, and the market price was relatively stable.
However, the overall market demand is still insufficient, and the price of raw materials has also risen rapidly in the short term. It is expected that in February, the production of steel mills may decline, demand tends to improve, and prices have a certain room for recovery.
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