India manufacturing PMI contracts for 3rd successive month in June

Time:2020-07-02 11:08:16      Source:Xinhuanet.com
Indian manufacturing contracted for the third consecutive month in June as expected due to lower demand triggered by the nationwide lockdown due to COVID-19, as per Manufacturing Purchasing Managers' Index (PMI), compiled by IHS Markit, Wednesday.
 
While the PMI Index rose to 47.2 in June from 30.8 in the preceding month of May, it remained below the 50-point mark that separated growth from contraction.
 
"India's manufacturing sector moved towards stabilisation in June, with both output and new orders contracting at much softer rates than seen in April and May. However, the recent spike in new coronavirus cases and the resulting lockdown extensions have seen demand continue to weaken," said Eliot Kerr, economist at IHS Markit, the London-based global information provider.
 
Overall demand received little support from international markets, with new export orders falling for the fourth month in a row. Indian companies continued to cut their input purchasing activity as novel coronavirus led restrictions hampered production, the statement said.
 
India has 220,114 active COVID-19 cases with 17,400 deaths reported so far.
 
"Should case numbers continue rising at their current pace, further lockdown extensions may be imposed, which would likely derail a recovery in economic conditions and prolong the woes of those most severely affected by this crisis," Kerr said. 
Index RMB/t DoD Basis Date
Datong 5500 700 0 ex-mine 05-04
Shuozhou 5200 680 0 FOR 05-04
Ordos 5500 700 0 ex-mine 05-04
Yulin 6200 780 0 ex-mine 05-04
Liulin Low-sulphur 900 0 ex-mine 05-04
Gujiao Low-sulphur 1770 -50 FOR 05-04
Xingtai Low-sulphur 2360 0 ex-Factory 05-04
Yangquan PCI 1280 -30 FOR 05-04
Index RMB/t WoW WoW% Date
Qinhuangdao 507.0 1.0 0.20 05-04
Caofeidian 541.0 9.0 1.69 05-04
Huanghua 216.9 12.4 6.06 05-04
Guangzhou 291.2 3.0 1.04 04-27
coastal 6PPs 1629.8 44.7 2.82 07-02
North Ports 2697.8 53.0 2.00 02-01
Yangtze River delta 1242.5 -74.7 -5.67 02-01
South Ports 2233.4 -216.0 -8.82 02-01
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