China’s metals sector issues SOS to state as stocks pile up
There are ominous signs a physical demand shock is playing out in China, which may generate a second-wave hit to prices
02 March 2020 - 17:49
London — The scale of the coronavirus hit to China’s giant manufacturing sector was laid bare by the slump in the country's purchasing managers’ indices (PMIs) for February.
The official PMI imploded from 50.0 to 35.7, while the Caixin index, which captures activity among smaller companies, tumbled from 51.1 to a record low of 40.3. The collapse in manufacturing activity in February was worse than that seen during the global financial crisis...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.