China’s stainless steel PMI in Nov comes to 45.21%, lower than expectation

According to the report, the stainless steel’s Purchasing Managers’ Index (PMI) for China in November was 45.21%, lower than the previous’ expectation, which showed the recent market was hard to operate for the mills.

Based on that, more and more Chinese stainless steel mills decided to cut their production and the trend was expected to continue in the next few months.

As the expectation of the stainless steel’s PMI for China in December was 44.88%, those mills tended to cut their production might start the plan around the beginning of December.