Platts China Steel Sentiment Index back in negative territory in May
The May index dropped 22.14 points from 69.12 in April, recording the weakest reading since February – and is now 42.44 points below March’s record of 89.42. A reading above 50 indicates expectations of an increase/expansion and a reading below 50 indicates a decrease/contraction.
The outlook for new domestic orders for steel for the coming month fell by 23.65 points from the previous month to 47.20 in May, while expectations for export orders edged down by 4.74 points to 44.44.
Price expectations for long steel products, such as rebar, slumped by 60.0 points from April to 30.0 in May. The price outlook for flat steel products, such as hot rolled coil, fell 39.20 points to 41.43 in May.
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