The US economy is showing signs of slowing with the Leading Economic Index falling again in March as early signs of a labour market weakening are starting to emerge. In addition, ISM manufacturing PMI continued to flash contraction and US housing starts and permits declined m/m following a brief improvement in February. In line with this, contacts have reported softening cathode demand in April m/m, with some consumers pushing back their contracted volumes to later in the month, but not cancelling. Despite this, magnet wire used in the automotive sector has seen robust demand with the US posting strong vehicle sales growth of 8.5% y/y for Q1.
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