China’s aluminium processing industry PMI hovers below 50% in August despite M-o-M growth
China’s comprehensive Purchasing Managers’ Index (PMI) for the aluminium processing industry witnessed an increase of 1.8 percentage point month-on-month, yet stood below the 50 per cent mark during August 2024, owing to the persistent traditional off-season in the domestic market.
According to the Shanghai Metals Market survey, China’s PMI for the domestic aluminium processing industry was recorded at 43.6 per cent, with a few sectors standing as an exception above the 50 per cent mark. While the PMIs for China’s domestic construction aluminium extrusion and plate/sheet, strip and foil segment were below the 50 mark, the industrial extrusion segment and aluminium wire and cable sector witnessed PMIs of 51.97 per cent and 50.5 per cent.
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