Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany
at $335-355 per tonne on Friday, down from $340-355 per tonne on July 11. The premium fell for the second straight month, with market participants attributing this month's drop to bearish macroeconomic indicators in July.
Germany’s manufacturing Purchasing Mangers’ Index (PMI) was published at 43.1 in July. A reading below 50 indicates a contraction in German manufacturing activity. Less manufacturing activity reflects less end-consumer demand.
“If you look at this [manufacturing PMI] data and which sectors it reflected, it was...