As the USA moves into spring and leaves behind a harsh winter, conditions in the aluminium market continue to improve. CRU's contacts are reporting widespread optimism that pent up demand arising from the severe winter is finally coming into play. This view is reflected in the latest figures from the US Order Book Index, which continue to climb. The US Order Book Index rose one point in April, coming in at 54.0 points for the month, from 53.0 points in March. The overall PMI for the sector rose to 53.4 points in April, from 52.9 points in March. Although the Expected Purchasing Index fell from 55.1 to 53.1, pointing to a slowing in growth, it is still at a firm level and should not be interpreted as a decline in demand.
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