- Friday 2010-08-27 09:38
August 27 -- The domestic purchasing managers index (PMI) of steel rose 1.1 points month-on-month to 45.4 in July, reports yicai.com, citing Cai Jin, the vice director of China Federation of Logistics and Purchasing.
Cai attributed the increase of steel prices to decreases in the production volume of crude steel instead of rising demand.
According to langesteel.com, the steel price index hit 165.6 points as of August 25, up 12.6 points from the middle of July.
The long steel products price index and the steel sheet price index reached 186.5 points and 140.4 points, respectively.
According to Ma Li, an analyst at langesteel.com, the price of steel products is expected to rise continually.
Shares of Baoshan Iron and Steel (600019) inched up 0.48 percent to 6.31 yuan at 10:24.
