Market News

Global mining equipment designer and manufacturer Austin Engineering has sold its first Mainetec-designed dipper bucket to a customer in the United States. 

ASX-listed global engineering firm Austin Engineering announced the completion of the first shipment of fully manufactured and assembled truck trays from its Indonesian facility in Batam, which have been delivered directly into Western Australia's (WA) Pilbara mining region.

Australia's job vacancies dropped in the three months leading up to February, the third consecutive quarter of decline, but figures remain significantly higher than levels prior to the pandemic, indicating a competitive labour market, according to the latest Australian Bureau of Statistics (ABS) data.

Titomic has received two purchase orders for its newly launched Titomic D623 medium-pressure cold spray system, for a total of $270,000. 

American additive manufacturing company Markforged has reported that its first quarter results revenue increased by 10 per cent, to $24.1 million (AUD 36 million) from $21.9 million (AUD 32.7 million) in the same period of the prior year. 

ASX-listed boron and lithium company 5E Advanced Materials has officially begun mining operations at its 5E Boron Americans Complex with the start of the wellfield injection process. 

Market activity in Australia’s manufacturing sector has experienced further contraction at the end of 2022, with the seasonally adjusted S&P Global Australia Manufacturing Purchasing Managers’ Index (PMI) standing at 50.2. 

At the onset of 2024, Australia's private sector faced continued challenges, with the Judo Bank Flash Australia Composite PMI Output Index reporting a reading of 48.1 in January, indicating a fourth consecutive month of business activity decline.

ASX-listed steelmaker BlueScope has posted an underlying EBIT of $851 million and a net profit after tax (NPAT) of $599 million for the first half of fiscal year 2023. 

Downturns in Australia’s manufacturing industry persisted in November, resulting in the lowest reading in the eight-year history of Judo Bank’s Purchasing Manager’s Index (PMI) survey outside of lockdown periods.