PMI For Aluminium Foil Sector Fell To 38.1 In May And To Remain In Contraction Territory In June

SHANGHAI, Jun 15 (SMM) –Aluminium foil: The PMI for the sector fell 10.7 points MoM to 38.1 in May. Both domestic and overseas demand shrank, forcing some enterprises to lower operating rates accordingly. Demand for battery foil and electronic foil was relatively stable with support from new energy industry, while mainstream aluminium foil, such as air conditioner foil, household foil, and lunch box foil saw poor performance. However, in late May, some enterprises said their orders did not deteriorate further. The PMI may pick up in June, but is unlikely to exceed 50.