The Purchasing Managers' Index (PMI) for the steel industry in North China's Hebei province rose by 8.2 percentage points month-on-month to reach 54.1 in March, moving into expansion territory after four months of contraction. The increase was notably 8.1 percentage points higher than China's national steel PMI, which stood at 46 in March.
New orders for Hebei's steel mills surged by 11.6 percentage points to 60.3, driven by a strong recovery following the Chinese New Year holiday. However, global trade measures continued to impact Chinese steel exports, with export orders for Hebei mills easing slightly by 2.6 percentage points to 50.
Steel output in the province grew significantly, with a 15.9 percentage point rise to 54.9, supported by improved profitability and the lifting of local government-imposed production curbs aimed at reducing pollution. Meanwhile, steel inventories decreased by 2.7 percentage points to 40.5, and raw material stocks rose by 3.7 percentage points to 42.7, although still within the contraction zone.
