May Steel PMI shows: Steel prices fluctuate sharply, market supply and demand growth divergence

Judging from the steel industry PMI surveyed and released by the China Internet of Things Steel Logistics Professional Committee, it was 46.1% in May, an increase of 0.7 percentage points from the previous month. The sub-indices showed that the prices of raw materials and steel products fluctuated sharply during the month, the production of steel mills increased, market demand slowed down, and the speed of steel mills’ destocking decreased. It is expected that in June, steel prices will maintain slight fluctuations, market demand will continue to be under pressure, and steel mills’ production growth will slow down.