China’s steel market sentiment sinks

Feb 20, 2014 | 02:54 PM |

Tags  China, steel, purchasing managers' index, PMI, manufacturing, HSBC

SHANGHAI — Sentiment weakened in China’s steel market after activity in the country’s manufacturing sector dropped to its lowest level in seven months, according to preliminary data released Feb. 20 by HSBC Holdings Plc’s China purchasing managers’ index (PMI).
The bank’s flash PMI for February stood at 48.3 points, down from a final reading of 49.5 points in January. A reading below 50 points indicates a contraction in manufacturing activity. ....

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