MNI BRIEF: China Steel Distributors PMI Up In March

China’s Steel Distributors PMI Index reached 52.6% in March, up 3.3 percentage points from February, breaking above the 50 expansionary mark for the first time since October 2024, the Lange Steel Network announced on Tuesday.

The sales volume sub-index hit 55.2%, up 8.6 pp from the previous month, while new orders rose 8.3 pp m/m to 54.2%, the network said.

The steel market in April is expected to maintain a volatile upward trend as the construction season begins.

Beijing’s moves to boost domestic demand and market expectations for output cuts should keep steel rebar futures at around CNY3,150-3,400 a tonne over the next few months, local analysts recently told MNI. (See MNI: China Stimulus To Support Steel Future)