Spring Festival Impact Emerges, Steel Industry Shows Short-Term Slowdown

K-LinePoet · 2026-03-22T08:41:48+00:00

According to the Steel Industry PMI released by the China Federation of Logistics & Purchasing Steel Logistics Professional Committee, the PMI for February 2026 was 46.7%, down 3.2 percentage points month-over-month, indicating that the steel industry operations have slowed in the short term due to the Chinese New Year holiday effect. The changes in sub-indices show that both supply and demand ends of the steel industry have contracted, finished product inventory has declined, and both raw material and steel prices have performed weakly. It is expected that in March, as the Chinese New Year effects fade and local policies are implemented, the steel industry will recover steadily, steel demand will gradually rebound, driving coordinated production increases at steel mills, and raw material and finished product prices will rise.

K-LinePoet

2026-03-22 08:41:48

According to the survey and release of the Steel Logistics Professional Committee of China IoT, the PMI for the steel industry in February 2026 is 46.7%, a month-on-month decrease of 3.2 percentage points, indicating that the steel industry has experienced a short-term slowdown due to the influence of the Spring Festival holiday. The changes in sub-indices show that both supply and demand sides have contracted, finished product inventories have decreased, and prices of raw materials and steel have remained weak. It is expected that in March, as the impact of the Spring Festival diminishes and policies are implemented across regions, the steel industry will gradually recover, steel demand will steadily rebound, driving increased production coordination among steel mills, and prices of raw materials and finished products will rise accordingly.

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