Last month, demand in the foundry industry was at 51.95%, the lowest point of this entire year 2024.
In November, demand in the foundry industry reached its lowest point of the entire year 2024. “This within a scenario of stagnation of activity,” revealed a report from the Chamber of Foundry Industrialists of the Argentine Republic (CIFRA).
Despite this, one fact to highlight is that For the first time in the year, the levels of use of installed capacity showed a different trend than firm orders. Furthermore, the level of 56.1% is an increase above the average of the last 4 months.
“This may be because many companies are organizing planning for the vacation months,” they explained. For its part, there was also a modification in the trend of export demand.
“One aspect to take into account is the change in trend in demand from external markets, both in firm orders and in future expectations. The figure of 49% in the level of demand implies a drop in relation to the average of recent months. There are seasonal issues in the work programs that could be a factor or cause of this decline,” they explained.
On the other hand, they highlighted that it was a year of low demand in all market segments. The steel sector was added to the automotive, agricultural machinery and oil & gas sectors that could lead a recovery. At the same time, within very low demand values in the other segments, There were slight changes in trend that could be transformed or consolidated into positive signs.
In conclusion, they determined that “the relevant data remains that in a context of stagnation at a level of low demand, half of the companies did not make changes to their staff.” But on the other hand, it could be observed that almost 45% of companies, if their staffing decreased staff. This level of decrease in employment is above the average of recent months.
Finally, 73% of companies stated that their profitability decreased in November. “These levels are the most worrying data that the sector faces, given that it is consolidated as a constant of the year. The average so far this year tells us that 82% of companies lost profitability,” they closed.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
