Morning Bites

🌏 Global manufacturing PMIs were generally strong in May. The Eurozone Markit Manufacturing PMI printed 51.6 last month (vs. 52.2 in April), while the US ISM Manufacturing PMI jumped to 54.0 (the highest point since May-22)

🇨🇳 The official NBS Manufacturing PMI in China inched down to 50.0 (from 50.3 a month ago). Meanwhile, the Caixin China Manufacturing PMI slid to 51.8 (from 52.2 earlier)

🇮🇳 India’s manufacturing PMI of 55.0 remains one of the strongest indicators among the world's key economies

❗️Overall, manufacturing PMI readings in every major region were in neutral or positive (above 50.0) zone in May: this could be a positive sign for local industrial metals demand, if the trend persists, we think. At the same time, India remains the standout with continuously robust PMI figures

#PMIs