PMI For Aluminium Wire And Cable Sector Dropped To 44.2 In May, To Remain In Contraction Territory In June

SHANGHAI, Jun 7 (SMM) – Aluminium wire and cable: SMM data showed the PMI for the sector lost 9.1 points to 44.2 in May. Operating rates in the aluminium wire and cable industry decreased slightly month-on-month. Both new orders and export orders showed a slight decline. New orders were limited after delivery to power grid projects was completed. State Grid issued bids for new projects, but delivery is not due until the end of the year. In view of limited new orders and falling backlog orders, operating rates will hardly pick up significantly. The PMI will remain below 50 in June.