Judging from the PMI of the steel industry and the manufacturing PMI in March, the demand for industrial steel in April may continue to be favorable, and the pressure in the supply stage is not significant. In terms of the steel PMI, it was 46.00% in March 2025, an increase of 0.90 percentage points compared with the previous period, but still below the 50% boom-bust line. The purchase price index decreased, the degree of production contraction continued to weaken, and the inventory of finished products turned from decline to increase.

In terms of the manufacturing PMI, it stood at 50.50% in March 2025, an increase of 0.30 percentage points from the previous month, indicating that the overall manufacturing sector continued to expand. The expansion trend in the production and procurement end is obvious. Depending on the situation, the expansion of large manufacturing enterprises has slowed down, while that of small and medium-sized enterprises has improved significantly. For the industrial steel market in April, it is expected to be strong at first and then weak, with an overall slightly stronger performance. Manufacturing demand continues to improve, while the weakening of steel mill production has slowed down somewhat, and the contradiction between supply and demand has increased to a certain extent.