China’s aluminium processing industry PMI contracted in December 2023
Based on the Shanghai Metals Market survey of 123 Chinese aluminium processing enterprises, composite PMI (Purchasing Manager’s Index) for aluminium processing industry was 43.6 per cent in December 2023, down from 47.3 per cent in November.
The PMIs for aluminium plate/sheet and strip processing, construction aluminium extrusion processing, and industrial aluminium extrusion processing were also down month-on-month standing at 42.8 per cent versus 47.1 per cent, 40.1 per cent versus 49.2 per cent, and 50.2 per cent versus 55.5 per cent, respectively.
PMIs for aluminium foil processing and aluminium wire & cable, on the other hand, saw a rise in December from 30.5 per cent to 47.7 per cent and from 52.1 per cent to 53.2 per cent.
According to SMM, PMIs for primary aluminium alloy and secondary aluminium alloy recorded month-on-month decline in December 2023 from 47 per cent to 36.5 per cent and from 52.3 per cent to 45.6 per cent.
PMIs for indexed production in December 2023 also indicated month-n-month downfall from 46.2 per cent to 39.9 per cent, while that of indexed import was almost restrained at 49.9 per cent versus 50 per cent.
New orders rose from 41.6 per cent to 43.2 per cent, while backlog orders increased from 40 per cent to 44.8 per cent.
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