SHANGHAI, Apr 4 (SMM) – China's steel purchasing managers' index (PMI) in March rose 1.1 from February and stood at 50.6, according to data from China Federation of Logistics & Purchasing. A reading above 50 signals an expansion.
SMM expects steel prices to rebound in April given a bullish market. Steel inventories have shrunk since late-March with the pickup in downstream demand recovery.
SMM's steel PMI for March stood at 50.83 after seasonal adjustments, up 12.58 on the month and 9.59 on the year. For more information, please refer to SMM's China Steel PMI Monthly report.
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