According to data released by the National Bureau of Statistics, the PMI of China's manufacturing sector in August was 49.4%, up 0.4% from the previous month, among which the production index was 49.8%. The new orders index was 49.2%, up 0.7%.

           According to the data, the economy of the manufacturing industry picked up in August, but still below the critical point. The PMI of large and medium-sized enterprises increased, while that of small enterprises fell by 0.3% to 47.6%, indicating that small enterprises are still facing considerable pressure.

          According to SteelHome survey, China’s steel trading volume continued to rebound. The decline of steel inventories slowed down, among which inventories at mills increased and inventories at markets decreased. Operating rate of blast furnaces continued to rally. As power curtailment for high temperature ended, electrical furnaces resumed production.

          China’s steel prices went down in the week ended September 2. According to SteelHome China Steel Price Index (SHCNSI), steel price index closed at 104.09 points (4,502 yuan) on September 2, down 0.54% week on week.