Reuters reported last week that HSBC's Flash Purchasing Managers' Index, the earliest indicator of China's industrial activity, fell back to 48.1 from February's four-month high of 49.6. An index level of less than 50 indicates a contraction in industrial purchasing within the country.The new orders sub-index, the biggest of the five components comprising the PMI, fell to 46.2 and weighed most heavily upon the overall index.
China Slows Coal Markets
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