Morning Bites (part 1)

🌏 Global manufacturing PMIs showed mixed dynamics in February. The Eurozone Markit Manufacturing PMI printed 50.8 (vs. 49.5 in January), while the US ISM Manufacturing PMI inched down to 52.4 (vs. 52.6 seen last month)

🇨🇳 The official NBS Manufacturing PMI in China declined to 49.0 (from 49.3 a month ago). However, the Caixin China Manufacturing PMI jumped to 52.1 (from 50.3 earlier)

🇮🇳 India’s manufacturing PMI of 56.9 remains one of the strongest indicators among the world's key economies

❗️Overall, manufacturing PMI readings in western economies remained above 50.0 - this could be a positive sign for local industrial metals demand, if the trend persists, we think. At the same time, Chinese PMIs show mixed dynamics, while India is the standout with continuously robust PMI figures

#PMIs