Steel PMI for May was 47.9%: Off-season characteristics have emerged and the steel industry’s operation has slowed down.

```htmlGolden Ten Data reported on May 31 that according to the PMI survey and release by the China Federation of Logistics & Purchasing Steel Logistics Professional Committee, the steel industry PMI for May 2026 was 47.9%, down 1.3 percentage points from the previous month, indicating a slowdown in the steel industry’s operations. Sub-indexes show that after entering May, the off-season characteristics of the steel industry have become apparent, demand has softened, supply remains weak, the destocking speed of finished products has slowed down, and the prices of raw materials and steel continue to rise. It is expected that in June, the steel industry will continue to face downward pressure, demand will show an off-season pattern, steel mills will face greater production contraction pressure, the upward momentum of raw material prices will ease from high levels, and the drivers for steel price increases will also weaken.```