Morning Bites (part 1)

🌏Global manufacturing PMIs showed mixed dynamics in March. The Eurozone Markit Manufacturing PMI fell further to 45.7 (3-month low), well below the consensus estimate of 47.0. The US ISM manufacturing PMI, however, recovered to 50.3 ahead of the consensus, marking the first  >50.0 since October 2022

🇨🇳The official NBS Manufacturing PMI in China jumped to 50.8 in March (vs. 49.1 in February), beating market estimates of 49.9. Meanwhile, the Caixin China Manufacturing PMI was at 51.1 in March -- broadly in-line with the forecasts of 51.0

🇮🇳 Indian manufacturing PMI jumped to a record high 59.1, but came in slightly short of the consensus estimates (59.4)

❗️Although EU PMI remained depressed in March (staying below 50.0), Chinese, Indian and US PMIs dynamics were solid. Overall, this reflects improving sentiment in the local manufacturing sectors -- a positive factor for the industrial metals demand (e.g. steel, aluminum and copper)

#PMIs
https://metals-wire.com/news-reports