Economy

Domestic Steel Shipments Slump 1.7% in April: AISI
June 7, 2023
Steel shipments in the US fell 1.7% in April vs. the same month last year, the American Iron and Steel Institute (AISI) reported on Wednesday.
AISI said US steel mills shipped 7,499,979 net tons in April, down from 7,629,985 tons shipped a year earlier, but up 1.7% from the 7,372,430 tons shipped during March.
Year-to-date shipments in 2023 as of April stood at 28,938,521 tons, off 5.0% from 2022 shipments of 30,456,079 tons in the same period, AISI said.
The institute noted that a comparison of shipments year-to-date this year to the first four months of 2022 shows the following changes: hot-rolled sheet (-3%), cold-rolled sheet (-5%), and corrosion-resistant sheet (-5%).
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Economy

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.

Durable goods orders rise again in February
Transportation equipment led the increase, rising 1.5% to $98.3 billion.

Consumer confidence falls for fourth consecutive month
People remain concerned about inflation, trade policies, and tariffs.

Housing starts ticked up in February
Single-family starts last month hit a rate of 1.10 million, a month-over-month increase of 11.4%, census data shows.