Steel shares fall after China's factory growth slumps, PMI hits three-month low

Shares of steel companies fell as concerns of weak demand after slower growth in China hit investors.

The Purchasing Managers' Index (PMI) fell to a three-month low in August, slowing growth in China's vast factory sector.

Shares of Tata Steel Ltd were down 1.1 per cent followed by JSW Steel (down 0.6 per cent) and Jindal Steel and Power (down 0.4 per cent).

(Reuters)