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February 10, 2020

Reports Show Weakness In World Metals User Markets

 

  • The IHS Markit global steel users purchasing managers’ index (PMI) fell slightly from 49.7 in December to 49.6 in January to its lowest level in five months, pointing to a second successive deterioration in the health of the global steel-using industry. The report said a slowdown in output growth was due to a drop in new orders and that export sales also were weak.
  • The IHS Markit global aluminum users PMI rose from 49.6 in December to 49.9 in January. The report said output grew at a slower rate while employment and purchasing activity continued to decline. Cost pressures also increased at the quickest pace for ten months due to higher aluminum prices.
  • The IHS Markit global copper users PMI fell for the third successive month from 49.6 in December to 49.4 in January. Operating conditions deteriorated and new orders fell for the second month in a row. Job numbers also declined, while production expanded only slightly from December. Rising metal prices also led to a sharper uptick in input costs.
  • As a reminder, all PMIs, including general manufacturing PMIs, can be found here.