Global Economic News: Worldwide, Metals Firms Are Dealing With Supply Chain Issues

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

• According to IHS Markit Global Steel Users purchasing managers index (PMI), steel users registered a marginal uplift in output at the start of the fourth quarter, with the rate of growth the slowest recorded since June 2020. Supply chain delays persisted however, as delivery times lengthened at a survey- record pace, which led to a steep acceleration in cost burdens. Inventories of both inputs and finished goods meanwhile declined due to difficulties in obtaining materials. Read the full report here.
• According to IHS Markit Global Aluminum Users PMI, aluminum users reported a slower improvement in overall operating conditions in October. Both output and new orders expanded at the softest rates in the respective sequences of growth and sustained pressure on supply chains exacerbated existing material shortages and extended delivery times to the fastest rate on record. Read the full report here.
• According to IHS Markit Global Copper Users PMI, there was moderate improvement in overall operating conditions in October, with the rate of growth quickening for the first time since May. Copper users in Europe and Asia reported that growth rates strengthened during October while U.S. firm signaled the softest increase in operating conditions since August 2020. Read the full report here.