The purchasing managers index (PMI) for China’s iron and steel sector bounced back to the expansion area in February, rising 9.6% to 58.9 and hitting a high since March 2011, according to the latest data released by the China Federation of Logistics and Purchasing (CFLP).

Export orders in February also hit a two-year high and the sub-index for exports jumped 15% to 63.5 highlighting that steel exports in the future were expected to stay at a high level.

Source: China Metals e-mail