Domestic machine shops and other manufacturers ordered $159.5 million worth of cutting tools during July, a 3.2% increase in shipment values over the June result, but a 0.2% decline versus the July 2012 delivery total. The information is included in the monthly Cutting Tool Market Report (CTMR), a collaborative effort by the U.S. Cutting Tool Institute and AMT – the Association for Manufacturing Technology.
All data in the CTMR is based on actual shipments reported by the companies participating in the program, representing about 80% of the U.S. market for cutting tools, according to the two trade associations.
USCTI has more than 80 manufacturing companies as members, whose products include carbide tooling, drills and reamer, milling cutter, PCD and PCBN, tapping and die products, toolholders, and other tooling products. AMT represents U.S.-based designers, builders, and distributors of machine tools.
The year-to-date totals for cutting tool shipments stand at $1.7 billion, a drop of 7.2% compared to the seven-month total for 2012
The results are more encouraging than the recent U.S. Manufacturing Technology Orders report for July, a related monthly summary of new orders for machine tools and related technology. In that sector, the current year’s level of demand is well behind the pace of 2012.
“Most economic indicators for manufacturing for July were in line with cutting tools, showing small improvement for the month,” stated Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “Key customer industries such as motor vehicles are poised for a strong autumn.”