The PMI For Aluminium Downstream Sectors Will Remain In Contraction Territory In June Due To Off-Season

SHANGHAI, Jun 5 (SMM) – SMM data showed that the PMI for domestic aluminium downstream sectors dropped 3.7 points MoM to 42.4 in May.

After the peak season (March-April) passed, the aluminium processing industry entered the off-season in May. Aluminium plate/sheet, strip and foil sectors saw limited new orders, except for new energy-driven battery foil. Weaker-than-expected recovery of real estate market and cooling construction sector took a toll on construction aluminium extrusion segment, while industrial aluminium segment performed relatively well. Other aluminium processing segments weakened amid sluggish end-user demand. Considering that the off-season will deepen, the PMI for aluminium downstream sectors will remain in the contraction territory in June.