Demand growth impresses in the USA and Asia

摘要

The Order Book Index for the USA has continued to move upwards, rising to 55.1 points in May from 54.3 points in April. The overall PMI rose to 53.9 points in May, up from 53.5 points in April. This is reflective of improved end use demand in the past few months, following a difficult winter. Extrusions demand in the USA gained momentum in the past few months and most of the delayed demand due to harsh winter conditions is materialising. Rolled products consumption, on the other hand, failed to impress as pent up demand did not meet market expectations. Arguably Q2 demand was better, but CRU's contacts are concerned whether there will be a strong pick-up in consumption.