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China Steel PMI monthly December 2013

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Publish time: 7th January, 2014      Source: ChinaCCM
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Based on a recent Steelease survey of major steel downstream industries, the steel-PMI was 49.98 in December, down 0.4 MoM, but up 1.16 YoY. After being seasonally adjusted, the reading was 51.24 in December, up 1.07 MoM, and up 1.08 YoY.

Business activities in the manufacturing sectors remained strong in December, but the expansion slowed to some extent, and most manufacturing manufacturers acted to build up stocks. The transportation industry joined the construction sector into contraction in December.

In summary, business activities in the transportation industry fell below 50 in December, while stocks replenishment increased in the manufacturing sectors, but short term new orders will not prop up production in a sustainable way.