Steel Product Producers
Metalformers see economic activity holding steady
Written by Stephanie Ritenbaugh
January 23, 2025
Most manufacturers expect economic activity to hold steady in the next three months, according to the latest report from the Precision Metalforming Association.
PMA’s January report shows that 54% expect no change in activity, up from 49% in December. However, the percentage of manufacturers who are optimistic about the next three months rose by 5% to 35%. The remaining 11% anticipate a decrease in activity, down from 21% in December.
“Our members are optimistic that the new administration and congress will take steps to strengthen domestic manufacturing, reduce unnecessary regulations, and reinstate important business tax incentives that encourage research and development and capital equipment purchases,” PMA President David Klotz said in a statement.
“PMA’s advocacy team in Washington, D.C., is urging policymakers to avoid adopting a tariff policy that protects only one part of the supply chain at the expense of downstream users, as a true economic revitalization must support both upstream and downstream manufacturing industries.”
PMA’s monthly report provides an economic indicator for the next three months of manufacturing, sampling 107 metalforming companies in the United States and Canada.
Manufacturers also forecast a spike in incoming orders. Almost half (49%) expect an increase in orders during the next three months, while 38% predict no change, and the small remainder expect a drop.
As for labor, the survey showed no change month over month in the percentage of respondents reporting a portion of their workforce on short time or layoff (12%), the percentage expanding their workforce (24%), and the percentage reporting an increase in lead times (5%).
Stephanie Ritenbaugh
Read more from Stephanie RitenbaughLatest in Steel Product Producers
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.
AHMSA opens doors to potential buyers as $1.3B asset auction nears
AHMSA is opening its doors to potential buyers to tour its steel plant and mining operations in northern Mexico in preparation for the next stage of its bankruptcy process: the auction of its assets.
HVAC equipment shipments down through July
Total heating and cooling equipment shipments eased again in July, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
USW seeks clarity on USS plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.