Economy
'Twas Almost Christmas 2016 (A Poem for the Steel & Manufacturing Industries)
Written by John Packard
December 8, 2016
Every year Keith Gunter of McElroy Metal produces a Christmas poem dedicated to recent steel events and wishes for the New Year. Take a moment to enjoy this year’s spin on the old classic, Twas the Night Before Christmas:
T’was almost Christmas,
So time to reflect on the year,
Cost has had its ups and downs,
But has now reached a new gear.
Too many announcements made,
More than one can bear,
Just left my desk for a minute,
And another one was there.
The coke mines were shuttered,
And scrap got too low,
Make things tight and raise the price,
But it hurts demand more than you know.
Folks were all nestled,
Thinking steel projects were put to bed,
Now waking up to wonder,
About alternative materials instead.
Trade suits are in effect,
So much less steel to dump,
And it probably will stay that way,
Now that we have a man named Trump.
So time to bring U.S. capacity up,
To handle the true need,
I hope we can find a balance,
And put an end to all the greed.
We all need to work hard for our customers,
To try and make things right,
Consistent pricing and service,
And with that, to all a good night.
Keith Gunter, Vice President Purchasing, McElroy Metal
John Packard
Read more from John PackardLatest in Economy
CRU: Will US tariff policy be transactional or transformational?
The Trump 1.0 tariffs appeared to have little positive effect on the US manufacturing, partly because they hurt export competitiveness.
Beige Book finds mixed demand trends, tariff concerns
Manufacturing activity exhibited slight to modest increases across a majority of districts. However, manufacturers expressed concerns over the potential impact of looming trade policy changes between late January and February.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
ISM: Manufacturing expansion slowed in February
The Manufacturing PMI registered 50.3% in February. That’s 0.6 percentage points lower compared to the 50.9% recorded in January.
Chicago Business Barometer up but still pointing to weak conditions
The Chicago Business Barometer rose to an eight-month high in February. Despite the recovery, the measure continues to indicate deteriorating business conditions, as it has for over a year.