Economy
SMU's June At-a-Glance
Written by Brett Linton
June 30, 2020
Steel prices rose in the beginning of June, following May price increase announcements by the mills, but began to decline in the middle of the month and reached $480 per ton as of this week. Scrap prices were flat to down over May, while zinc and aluminum prices increased in June.
SMU Buyers Sentiment Index readings increased over June, with Current Sentiment rising further into positive territory and reaching +39 at the end of the month. Future Sentiment ended the month at +45, while the three-month moving average reached +17.67 as of last Friday. Sentiment readings in the chart below are averages for the month.
The SMU Price Momentum Indicator remained at Neutral for most of June, moving to Lower on the last day of the month as flat rolled steel prices trended downward.
Key indicators of steel demand were up compared to the downturn seen in the prior month. The AIA Billings Index rose to 32.0, and private employment increased by nearly 3,100 jobs.
See the chart below for other key metrics in the month of June:
Brett Linton
Read more from Brett LintonLatest in Economy
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.
Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them
ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.