The China Federation of Logistics and Purchasing announced on June 6 that the global manufacturing purchasing managers' index for May continued to fall month-on-month, falling to a new low since June 2020 in May, as the global economy continued to move downward.

The manufacturing trends of major countries in Asia and Africa were relatively stable, which were the main force for stabilising the manufacturing industries.

In May, the global manufacturing PMI was 48.3%, a decrease of 0.3 percentage point from the previous month, the lowest since June 2020. The index fell for three consecutive months and remained below 50% for eight straight months.

More popular news:

Commodity Price Bubble Finally Burst, but Metals Demand Will Surge

Glencore to Massively Expand Copper Capacity

SMM Daily Comments (Jun 2): All Metals Closed Higher with SHFE Nickel Leading Gains, Coke Surged

SMM Daily Comments (Jun 1): Base Metals Mostly Rose with SHFE Aluminium Surging, Ferrous Metals Rose across the board, Iron Ore Skyrocketed

SMM Daily Comments (Jun 5): Base Metals Mostly Fell, Ferrous Metals Bucked the Trend to Surge, Oil Gained Further on Saudi Arabia Output Cuts in July

SMM Indonesia Nickel and Cobalt Industry Chain Conference: Global Nickel & Cobalt Supply and Demand Prospect, Impact from NEV Development

Commerzbank Lowers Price Forecast for Copper, Aluminium, Zinc and Nickel for 2023 and 2024

Rumours Say Glencore Will Raise Takeover Bid for Teck Resources, but Another Big Obstacle Lies Ahead