Morning Bites

🌏Global manufacturing PMIs showed mixed dynamics in January. The Eurozone Markit Manufacturing PMI was 46.6 (vs. 45.1 in December), while the US ISM manufacturing PMI expanded to 50.9, having recovered to over 50.0 for the first time since early 2024

🇨🇳The official NBS Manufacturing PMI in China was 49.1 (vs. 50.1 a month ago). Meanwhile, the Caixin China Manufacturing PMI stood at 50.1

🇮🇳 India’s manufacturing PMI of 57.7 remains one of the strongest indicators among the world's key economies

❗️Global PMIs slightly improved in January (except for China), but EU index remains well below 50.0, underlining the ongoing slowdown in European manufacturing activity. Meanwhile, we reiterate our view that China’s additional fiscal stimulus (expected to be announced in March 2025) might bolster local demand for industrial metals this year (e.g. steel, aluminum and copper)

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