Steel Products
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/analysis2.png)
Near-Term Economic Activity Remains Stable: PMA
Written by Ethan Bernard
July 28, 2023
Most metal formers predict business conditions will remain stable over the next three months, according to the July 2023 Precision Metalforming Association (PMA) Business Conditions Report.
PMA’s July report said that 55% of the metal-forming companies the association surveyed expect no change in general economic activity in the next three months vs. 58% in June. Thirty-four percent see a fall in activity compared with 32% a month earlier, and 11% predict a rise in activity, up marginally from 10%.
“Metalforming manufacturers’ reporting of business activity remains consistent, despite rising costs, and ongoing challenges with supply-chain disruptions and finding workers,” PMA president David Klotz said in a statement on July 25.
“Our members are pleased that the House Ways and Means Committee recently approved a tax bill that included many of PMA’s priorities to boost US manufacturing competitiveness,” he added.
Other notable data include these: 18% survey respondents expect in increase incoming orders, a modest decrease from 20% in June. Forty-six percent predicted no change vs. 44% a month earlier, and 36% forecast a decrease, the same result as in June.
As for shipping levels, 19% reported a rise, down from 27% in June; 53% reported no change, nearly even with 52% a month earlier; and 28% reported a decline, up from 21%.
Lead times decreased for the third straight month in July, PMA said. Only 7% of metal-forming companies reported increased lead times compared to 10% in June.
The report is prepared monthly, according to PMA, and provides an economic indicator for the next three months of manufacturing. It samples 116 metal-forming companies in the US and Canada.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/SMU_EB_headshot.png.jpg-150x150.png)
Ethan Bernard
Read more from Ethan BernardLatest in Steel Products
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/coils2.png)
US steel imports slipped in August after rising in July
July represents the second-lowest monthly rate for steel imports so far this year.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/oil_drill.png)
Rig count update: US count eases, Canada’s flat
Oil and gas drilling activity in the US edged lower last week, while the Canadian rig count held steady at a six-month high.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/09/HRC-Futures.png)
HR futures: Trade case action official – It was already priced in?!
This month’s column on the markets could be a response to the question of last month, “Are the forward curve prices on Aug. 7 high enough to price in trade case risks?" The market’s answer has been a pretty resounding YES so far, I think.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/01/cropped-SMU_Mobile_final.png)
SMU survey: Lead times edge higher for sheet
Current steel mill lead time averages are a few days longer than levels seen one month prior, but remain near historical lows for both sheet and plate products.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/08/Hybar-logo.jpg)
Steel Summit 2024: Hybar CEO accelerating growth plans for US steel market
Hybar CEO David Stickler and SMU Managing Editor Michael Cowden shared a candid conversation about Hybar's ambitious plans on Tuesday morning at the SMU Steel Summit, held in Atlanta this week.