Posted November 17, 2020

September cutting tool sales declined 20.5 percent

September 2020 U.S. cutting tool consumption totaled $156.1 million, up 14.7 percent from August's $136.1 million, but  down 20.5 percent when compared with the $196.3 million reported for September 2019.

With a year-to-date total of $1.4 billion, 2020 is down 23.1 percent when compared with September 2019, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology..

“Great, we have seen an improvement of sales numbers, which is a whisper to reduce the uncertainty from the 2020 year of trauma. The cutting tool industry will recover, but we all know it will take time and we must be patient. Stay focused and we will see the numbers continue to improve,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group.

Chris Kaiser, president and CEO of Big Kaiser Precision Tooling, said the year-over-year and year-to-date percentages seem to be correcting in the right direction. "Back in April, the ‘doom and gloom’ forecast showed the year ending down 40 percent and fortunately that does not seem to be the case. Many of us in the cutting tool industry also watch the machine tool orders and those numbers improved in the recent month as well. At this point we are optimistic about the fourth quarter. We are not counting on a large Christmas present but just looking for some steadiness in the market and no further shutdowns," he said.