Consumption trends

摘要

Following months of weakening economic indicators in the USA, in September the slowdown finally reached the brass mill industry. An otherwise exceptionally strong third quarter for the industry ended with weakening demand and falling output. According to the ABMS, September shipments were down 11.6 percent and 7.3 percent year on year for copper tube and copper alloy rod respectively. Strip, sheet and plate managed 3.9 percent year on year growth, but this was still far below growth rates earlier in the year, and 18.7 percent down on August shipments. Overall, brass mill product shipments were down 2.3 percent on September 2003 - the first year on year decline since October 2003. This fall in shipments is largely attributed to de-stocking by end-users, and there are reports that demand has recovered somewhat since, although growth rates in Q4 look set to remain below those seen earlier in the year. Economic indicators have continued to fall -- the Purchasing Manager's Index reported its third straight month of slower growth in October, whilst the index of leading indicators fell a further 0.3 percent to 115.1, its fifth consecutive month of decline.