PMI For Primary And Secondary Aluminium Alloy Sectors Both In Contraction Territory In May

Published: Jun 6, 2023 10:56

Source: SMM

Save

SHANGHAI, Jun 6 (SMM) – Primary aluminium alloy: The PMI for the sector rose 3.8 points MoM to 44 in May.

SHANGHAI, Jun 6 (SMM) – Primary aluminium alloy: The PMI for the sector rose 3.8 points MoM to 44 in May. Production and orders at most companies remained poor. A few producers reported declines in production and sales. Primary aluminium alloys are used almost entirely in the automotive industry. June-August is the traditional off-season. Many auto makers will cut or suspend production due to high temperature, which will hurt demand for primary aluminium alloys. The PMI is expected between 40-50 in June.

Secondary aluminium alloy: The PMI for the sector rose 8.6 points MoM to 47.1 in May. Most producers maintained low operating rates. A few producers ramped up production slightly after orders improved. Some producers cut output due to losses and poor orders. Sluggish end demand will keep the PMI below 50 in June.

Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

48 mins ago

Oman Considers Three Green Aluminum Projects in Duqm SEZ with $6.2B Investment

[SMM Aluminum Express News] The Sultanate of Oman is considering the development of up to three aluminium projects at the Special Economic Zone at Duqm (SEZAD). According to Duqm Economist (OPAZ quarterly newsletter): The Green Aluminum Project is under study with a planned investment of RO 2.4 billion (~US$6.2 billion). It aims to produce 530,000 tons of green aluminum ingots per year, plus 620,000 tons of aluminum billets and pre-cast slabs using low-carbon technologies and green hydrogen from 2030 onwards. Two other projects the Geely Green Aluminum Project and the Pearl Green Iron and Aluminum Project are also in the pipeline in partnership with regional investors. Oman is prioritizing green industries and low-carbon aluminum and iron production in Duqm.

48 mins ago

1 hour ago

China's Secondary Aluminum Alloy Ingot Inventory Rises 297 MT, Foshan Sees Major Buildup

[SMM Express] China's mainstream consumption areas saw secondary aluminum alloy ingot inventory increase by 297 mt from the previous day, with inventory buildup mainly concentrated in the Foshan area.

1 hour ago

Geopolitical Negotiations Remain Unresolved, Aluminum Prices Continue LME Outperforms SHFE Pattern [SMM Aluminum Morning Meeting Minutes]

[Geopolitical Negotiations Remain Unresolved; Aluminum Prices Continue LME Outperforms SHFE Pattern] Overall, the Middle East negotiation process continued to face setbacks. However, the supply gap outside China and the continued drawdown of LME inventory supported LME prices to hold up well. Meanwhile, China's aluminum ingot inventory remained at elevated levels, and attention should be paid to whether the inflection point of domestic inventory can materialize smoothly.

1 hour ago