The construction PMI was 47.42 in August 2014, up 4.24 MoM, but down 3.76 YoY. On a seasonally-adjusted basis, the reading was 47.31, up 1.81 MoM, but down 3.92 YoY. Activity in the sector improved, but remained in contraction territory.
With the price negotiation of Iron Ore coming to the end, China steel industry has been affected by more complicated factors than ever not only from upstream side but also the demand of 7 downstream industries. On top of this, the introduction of low-income housing project, the pressure of inflation control and tight monetary policy has brought mixed impacts towards the industry. One can hardly have an understanding of China steel industry without comprehensive view of the industry. Under such background, Steelease feels the urge of re-launching our renowned China Steel Briefing by bringing subscribers with complete data from upstream iron ore price index to 7 downstream Purchasing Manager Indices (PMIs). China Steel Briefing has also extended to the entire industry chain from mines, steel mills, coking plants, trading companies to downstream steel users.
Source: Shanghai Metals Market
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