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It is alarming that the negative trend in the European foundry sector is intensifying, says the European Foundry Association, CAEF.

The picture emerged following the results of the latest European Foundry Industry Sentiment Indicator (FISI), which faces its fourth decrease in a row. Rating of 2.1 index points lower than in May, the index reached a value of 98.6 points in June. Hence, the value is now below the initial value of 100.0 in 2015. While order backlogs are still high but being worked off, new orders seem to have collapsed across several sectors. Meanwhile, a turnaround is not in sight particularly regarding expectations for the coming six months. While in recent months the development of steel and iron foundries on the one hand and non-ferrous metal foundries on the other hand was contrary due to statistical base effects, foundries of all materials groups are currently turning negative in their assessment of the business situation compared to the previous month.

The Business Climate Indicator (BCI) decreased by 0.13 points in June and brings the index to 0.06 points. The value is therefore now almost back to late pandemic times at the end of the year 2020, when it turned negative. Overall, the selling price expectations for the month ahead (August) are decreasing together with the current production level and the order book levels.

The FISI – European Foundry Industry Sentiment Indicator – is the earliest available composite indicator providing information on the European foundry industry performance. It is published by CAEF every month and is based on survey responses of the European foundry industry. The BCI – Business Climate Indicator – is an indicator published by the European Commission. The BCI evaluates development conditions of the manufacturing sector in the euro area every month and uses five balances of opinion from industry survey: production trends, order books, export order books, stocks and production expectations. www.caef.eu