SHANGHAI, Oct 30 (SMM)—According to the latest edition of the China Steel PMI Monthly, there was an improvement in manufacturing across downstream sectors, especially automobile, infrastructure construction and transportation. The index for production stood at 55.81 points, down 0.02 point on the month but up 4.14 points on the year. The index for new orders stood at 52.75 points, down 0.71 point but up 0.13 point than a year ago.

Steel - PMI

The PMI for construction stood at 51.95 in October, down 0.63 point from September but up 2.15 points year over year. Construction accelerated in October due year-end rush for delivery of construction projects.

For the machinery sector, the PMI stood at 51.66 in October, down 0.57 points on the month and 1.03 points on the year. The engineering machinery sector continued to drive production growth and orders in the machinery industry.

Over at the automobile sector, the PMI stood at 54.56 points in October, up 0.33 point month on month but down 1.21 points year on year. Production and orders in automobile sector showed great improvement.

The PMI for the shipbuilding sector rose 1.34 points month on month and 3.80 points year on year to 51.31 points in October. According to SMM survey, shipbuilders kept raw material stocks largely unchanged.

The composite PMI for home appliances stood at 54.77 points in October, up 1.37 points from September but down 0.67 point from a year earlier. Production and sales in the home appliance industry rose further in October, especially export orders.

PMI for the transport infrastructure sector rose 0.49 point month on month and declined 0.27 point year on year to 52.96 in October. Construction, new projects and raw material purchases in the transport infrastructure sector continued to increase in October amid capital and policy support.

For more details please refer to the October edition of the China Steel PMI Monthly.