October 2024: China’s aluminium processing industry PMI begins to experience off-season, recording a fall of 12.64% M-o-M
China’s domestic aluminium processing industry saw a 12.64 per cent downturn in the Purchasing Manager Index (PMI) during October 2024, reflecting a transition from peak to the traditional off-season. Although the PMI level in the said month stood above 50, the worsened trend in the preceding month due to low orders on hand amid the full-fledged traditional off-season is likely to bring the November PMI below the 50 per cent mark.
According to the Shanghai Metals Market survey, the PMI index for China’s domestic aluminium processing industry was 53.9 per cent, compared to 61.7 per cent in September. The weaker PMI for aluminium plate, sheet and strip industry, aluminium foil, industrial aluminium extrusion, and primary aluminium alloy mainly contributed to the overall decline.
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