Housing starts dipped 1.5 percent from January to February to a seasonally adjusted annual rate of 1,599,000, but were 39.2 percent higher than a year ago, according to a report from the U.S. Housing and Urban Development and Commerce Department. Single-family housing starts jumped 6.7 percent in February to 1,072,000 while starts for housing with […]
Construction employment numbers increased in January, but the Associated General Contractors of America says the coronavirus is likely to significantly affect employment beginning in March. “There is no doubt the coronavirus will have a significant impact on our economy, including the construction sector,” said Stephen E. Sandherr, the association’s chief executive officer. “That is why […]
The U.S. auto industry is taking steps to protect their workers in this unprecedented time of global pandemic. Ford, General Motors, Fiat Chrysler and the UAW have formed a COVID-19/Coronavirus Task Force to implement enhanced protections for manufacturing and warehouse employees at all three companies. In a joint statement, the leaders of GM, Ford and […]
Canada voted to approve the U.S.-Mexico-Canada Agreement without amendment on Friday, March 13, but its implementation may be delayed by the coronavirus. Following passage of the agreement, Canada’s parliament was dismissed for three weeks to combat the spread of the virus.The next step for Canada is “royal assent” by the governor general and a final […]
The Empire State Manufacturing Index plummeted 34 points in March to register -21.5, its steepest point drop on record and its lowest level since 2009. Forty-two percent of New York manufacturers surveyed reported that business conditions had worsened during the period. The new orders index tumbled 31 points to -9.3 while shipments fell 20.6 points […]
High water levels on Lake Ontario have pushed back the Great Lakes international shipping season until April 1 from the previously scheduled opening on March 20. Water from Lake Ontario passing through the Moses-Saunders hydroelectric dam has increased current velocity on the St. Lawrence Seaway making it unsafe for commercial shipping. The International Lake Ontario–St. […]
Cleveland-Cliffs has officially closed on its acquisition of AK Steel Holding Corporation, integrating the value-added steelmaker with Cliff’s iron ore operations. The combined company will be led by Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves. “This is a new era for Cleveland-Cliffs as a producer of differentiated, high quality iron ore, metallics and steel in […]
U.S. ports are canceling shifts and closing terminals due to shipping disruption stemming from coronavirus-related production cuts in China. The largest impact is on West Coast ports that serve as primary shipping destinations for Chinese imports. More than half of the volume at the ports of Los Angeles and Long Beach originates from China. Container […]
The Department of Labor announced its final rules for the Industry-Recognized Apprenticeship Programs with the glaring exclusion of programs for the construction industry. “It remains troubling that the administration has wasted so much time, energy and political capital in creating a new apprenticeship program that is both deeply flawed and fails to address construction workforce […]
British Steel is now owned by China’s Jingye Group and ready to begin a “new illustrious chapter” in the history of British steelmaking. The completed sale includes the steelworks at Scunthorpe, UK mills in Teesside and Skinningrove, FN Steel in the Netherlands and TSP Engineering. Jingye is continuing separate negotiations to acquire British Steel’s French […]
Covid-19 continues to spread globally, now detected in at least 103 countries. More than 80,000 cases have been reported in the epicenter of China and worldwide more than 114,500 people have been infected. The number of deaths reported has jumped to over 4,000. Testing for the virus has been slow in the U.S. as the […]
EVRAZ North America was hit by a cyberattack on March 4 that disrupted information technology systems at facilities in the U.S. and Canada, impacting production. An EVRAZ spokesperson said that there was “no indication of any breach of confidential or personal customer or employee information,” in the ransomware attack. Patrick Waldron, a spokesperson for EVRAZ […]
“Beyond seasonally subdued,” is how Ryerson Holding CEO Eddie Lehner described demand in the fourth quarter of 2019. Ryerson shipped 541,000 tons last quarter, down 6.2 percent year-over-year and 9.5 percent lower than in the third quarter. Revenue decreased 17.1 percent to $961.5 million compared to Q4 2018 and net income was $26.4 million. Average […]
AK Steel could be in danger of mill closures, said soon-to-be CEO Lourenco Goncalves, if stronger protection is not provided against electrical steel imports. In a warning to members of the Congressional Steel Caucus, Goncalves said the AK Steel mills in Butler, Pa., and Zanesville, Ohio, are unprofitable because of a loophole in the Section […]
Thomas Gibson, president and CEO of the American Iron and Steel Institute, will retire this fall. A search for his successor begins immediately. Gibson has led AISI since September 2008. Under his leadership, the institute successfully advocated for legislation to strengthen the trade laws against unfair trade practices and level the playing field for steel […]
The construction industry’s unemployment rate hit a new February low of 5.5 percent, according to an analysis of new government data by the Associated General Contractors of America. Construction employment increased by 42,000 jobs in February and by 223,000, or 3.0 percent, over the past 12 months. AGC officials said some of the gains were […]
Nonresidential construction planning slowed in February, according to the latest report from Dodge Data & Analytics. The Dodge Momentum Index moved 1.8 percent lower to 148.7 from the revised January reading of 151.4. The Momentum Index is a monthly measure of initial reports for nonresidential building projects in planning, which have been shown to lead […]
ArcelorMittal has big plans for AM/NS Calvert. Lakshmi Mittal, chairman of ArcelorMittal, hinted at a multi-billion dollar investment in Alabama during a press conference with President Donald Trump in India last week. Mittal thanked Trump for his involvement in the U.S. steel industry, calling the Section 232 tariffs a “big lesson for the rest of […]
Earlier this week the U.S. Court of Appeals for the Federal Circuit ruled against an appeal by the American Institute for International Steel challenging the constitutionality of the Section 232 tariffs. The court affirmed a ruling by the U.S. Court of International Trade, which upheld the Trump administration’s tariffs on imported steel. “While disappointed, we […]
Nucor-JFE Steel Mexico began production at its continuous galvanizing line in Silao, Guanajuato, this week. The facility will produce hot-dip galvanized sheet steel for the automotive market. With an annual production capacity of 400,000 tons, Nucor-JFE Steel can produce sheet thickness from 0.4 mm to 2.6 mm and widths of 800 mm to 1,850 mm. […]
February was a good month for auto sales, with automakers posting higher sales as buyers took advantage of incentives and President’s Day discounts. Toyota sales moved up 12 percent to 194,152 units, while Honda sales gained 4.2 percent. Hyundai sales were driven by consumer enthusiasm for crossover vehicles, gaining 15.8 percent for the month. Most […]
The coronavirus has begun to affect business in the United States, according to the latest Federal Reserve “Beige Book.” The economy is moving forward at a modest to moderate pace, but growth is uneven. The virus appears to be negatively impacting travel and tourism in the U.S., which showed only moderate to flat growth in […]
In just a few weeks from the first known case, the COVID-19 outbreak has wreaked havoc on the global manufacturing sector. The J.P. Morgan Global Manufacturing PMI posted a steep decline in February, falling to 47.2 from 50.4 in January, its lowest level since May 2009. New orders and production fell at record rates in […]
Steel Dynamics has agreed to acquire 100 percent of the equity interest of ferrous and nonferrous scrap metal recycler Zimmer, S.A. de C.V. The Monterrey, Mexico, operations will support raw material procurement for Steel Dynamics’ new Texas flat rolled mill. Zimmer operations consist of six scrap processing facilities located near scrap-rich industrial areas in Central […]
U.S. manufacturing activity grew only slightly in February, according to the latest Manufacturing ISM Report On Business. The Institute for Supply Management reported that the February PMI decreased 0.8 points to 50.1, just above the no-change mark of 50. The PMI for new orders fell into contraction at 49.8, while production dropped four points to […]
NLMK USA has filed a complaint with the U.S. Court of International Trade alleging that NLMK’s requests for steel slab exclusions from Section 232 of the Trade Expansion Act have been wrongfully denied. The Indiana and Pennsylvania mills use imported steel slab to process into finished products. The 250-255 mm thick slab (nominally “10 inch”) […]
Construction spending increased 1.8 percent to $1.369 trillion in January, according to a new analysis of federal data by the Associated General Contractors of America. “Public spending on infrastructure, along with single-family housing, was exceptionally robust in January,” said Ken Simonson, the association’s chief economist. “While overall economic conditions remain favorable, future construction spending levels […]
A new steel plant is slated for Canonsburg, Pa. Ameri-Precision Metals Inc. has begun construction on a 250,000-square-foot facility to produce cold-rolled and heat-treated carbon steel strips. Ameri-Precision is leasing the location from Pennsylvania Transformer. The facility should be running by April or May with phase 1 production beginning in July. The site of the […]
U.S. Steel is now 100 percent owner of USS-POSCO Industries as of Feb. 29, 2020. The purchase of the remaining shares of the company from its Korean partner represents the best opportunity for UPI to continue operating effectively and serve its customers, said U.S. Steel in a press release. UPI is headquartered in Pittsburg, Calif., […]
The Chicago Business Barometer nearly emerged from contraction in February. The manufacturing index, produced by MNI Indicators, gained 6.1 points to post 49.0, the highest level since August 2019. The three-month average for the index edged up to 46.7. Production reached an eight-month high, gaining 8.3 points to register 51.0 after seven straight months below […]