The Dodge Momentum Index, a monthly measure of the initial report for nonresidential buildings in planning, slipped 1.4 percent in May to a reading of 141.0 from a revised reading of 142.4 in April. The commercial component of the index dropped 6.9 percent while the institutional component rose 8.1 percent. On a year-over-year basis, the […]
Results for First Four Months of 2019 Combined Show Ongoing Strength Aside from Single-Family Market; Association Officials Urge End to Tariffs That Pose Threat to Construction Costs and Demand AGC, June 7, 2019 — Construction spending was unchanged from March to April, with mixed results by project type for the month and for the year […]
Job growth in two industries vital to the steel industry, manufacturing and construction, showed signs of slowing in May. The U.S. added a total of just 75,000 jobs in May, well below the 180,000 to 185,000 jobs forecast by economists. In addition, the Labor Department revised employment levels downward for March and April. The March […]
Lordstown will not be getting another General Motors vehicle, says CEO Mary Barra. And no, it is not a “PR stunt” by the company. The Ohio manufacturing facility was one of five North American plants included in a global restructuring of the company. During an interview with Reuters in Washington last week, Barra defended plans […]
Global manufacturing activity sank into contraction in May. The JP Morgan Global Manufacturing PMI slipped to 49.8 last month for its lowest level since October 2012. International trade concerns dampened new export orders, which fell for the ninth month in a row. Business optimism fell to a level not seen since October 2012. Said JP Morgan […]
Material Sciences Corporation has expanded its geographical reach to the West Coast with the acquisition of Alum-A-Fold Pacific, Inc. (AFP). Based in the Los Angeles area, AFP produces specialty coated metals that are engineered to address aesthetic, architectural, and corrosion needs for a wide variety of end markets, including building products, packaging, and consumer goods. […]
The Steel Market Development Institute (SMDI), a business unit of the American Iron and Steel Institute (AISI), presented awards for achievement and service to the North American steel industry at the institute’s General Meeting in Washington this week. Recipients were Dr. Grant Thomas of AK Steel, Eric Petersen, formerly of AK Steel, and Edward Pleet […]
A Mexican delegation led by Foreign Minister Marcelo Ebrard is in Washington trying to convince the Trump administration that tariffs are not the solution to stopping illegal immigration. On Friday, President Trump announced that he would impose a 5 percent tariff on all goods imported from Mexico, with 5 percent monthly increases capped at 25 […]
The Coalition of American Metal Manufacturers and Users issued the following statement on the one-year anniversary (June 1) of full implementation of the Section 232 tariffs on steel and aluminum imports: The Coalition of American Metal Manufacturers and Users (CAMMU) is encouraged by the termination of Section 232 steel and aluminum tariffs on Mexico and […]
Manufacturing in May grew at its slowest pace in two and a half years amid trade tensions and slower demand, reports the Institute for Supply Management. The PMI for the Manufacturing ISM Report on Business decreased 0.7 percentage points from April to a reading of 52.1 percent. The index for new orders gained one percentage […]
May turned out to be a good month for several automakers. Fiat Chrysler, Toyota and Nissan all reported year-over-year gains. Fiat Chrysler posted a 2 percent gain in May, its first monthly increase since January, while Toyota jumped 3.2 percent and Nissan 0.1 percent. Automotive News estimates that General Motors sales increased 1.2 percent in […]
The American Iron and Steel Institute’s (AISI) Board of Directors today welcomed two new directors — Michael McQuade, Algoma Steel Chief Executive Officer, and Ed Ramsey, Regional President-North America for Harsco Metals and Minerals. “Michael McQuade and Ed Ramsey are tremendous ambassadors for the steel industry, and I am excited to welcome them to the […]
Nucor Tubular Products announced on Monday a $27.2 million expansion for its Trinity, Ala., division that will include new production, finishing, processing and packaging equipment, and hiring of additional workforce to support the new operations. The expansion will allow Nucor Tubular Products to produce 1″ through 8″ A135/795 sprinkler pipe Schedule 10 and Schedule 40; […]
Promises of steel tariff relief were short-lived for Mexico as President Trump’s latest tariff move adds new penalties and dashes hopes for quick ratification of the USMCA. Trump announced on Thursday that 5 percent tariffs will be imposed June 10 on all Mexican goods, including steel, until such time that Mexico stops the influx of […]
NLMK Group has backed off from plans to invest in its U.S. division due to the steel duties that were imposed in 2018. The Department of Commerce has denied the Group’s request for exemption from the 25 percent Section 232 tariffs so that it can supply its facilities with steel slab. “Earlier we planned to […]
Construction employment expanded in 250 of 358 metro areas in the 12 months through April, according to the latest analysis of employment data by the Associated General Contractors of America. Employment declined in 53 areas and was unchanged in 55. Workforce shortage continues to be a problem for the construction industry, said AGC. “Demand for […]
Metalforming companies are expecting a downward trend in business conditions for the next three months, according to 119 metalforming companies surveyed by the Precision Metalforming Association. The PMA Business Conditions Report for May shows only 19 percent of those surveyed expected economic activity to improve. About 24 percent expected orders to decline, an increase from […]
The MNI Chicago Business Barometer gained 1.6 points in May to register 54.2. Survey responses showed softening in both manufacturing business activity and confidence. The three-month average for the Index slipped to a two-year low, said MNI Indicators. Production and new orders rose in May, but not enough to make up for weaker levels in […]
The chairman of Mexican steel producer Altos Hornos de Mexico SAB was arrested on Tuesday in an anti-corruption probe, resulting in the freezing of AHMSA accounts and a possible disruption to steel production in Mexico. The investigation involves the sale by AHMSA of an idled fertilizer plant in 2014, allegedly worth $50 million, to oil […]
ArcelorMittal announced it will make another cut to European production levels due to weak demand and high import levels in the region. Primary steelmaking will be reduced at facilities in Dunkirk, France, and Eisenhüttenstadt, Germany. Production at the facility in Bremen, Germany, will be reduced during the fourth quarter as well as extending planned furnace […]
United Steelworkers International President Leo Gerard will retire after 50 years of service. Gerard began his association with the USW as a union staff representative and ultimately became a District Director, the National Director for Canada, International Secretary-Treasurer and finally in 2001 the USW’s International President. Gerard was a constant and strong voice for the […]
Strong and healthy competition has always existed between the steel and aluminum industries as each vies to capture and retain market share through innovation, advertising, pricing and other strategies. However, beyond this story of upstream competition, both materials are integral to a wide range of manufactured products and are widely purchased, fabricated and distributed by […]
A $700 million expansion at North Star BlueScope may be in jeopardy, according to some financial analysts who point to new challenges for the mill now that the Section 232 tariffs have been removed from Canada and Mexico. Softening hot rolled coil prices and higher cost inputs are expected to pressure U.S. steel spreads. The […]
Trade tensions with China and a slower economy took a toll on durable goods orders in April. Orders fell 2.1 percent in April to a seasonally adjusted $248.4 billion, reported Commerce. April’s data includes a revision for March new orders to $506.2 billion from $508.5 billion. Civilian aircraft led last month’s decline, plummeting 25 percent […]
The rate of growth in U.S. home prices continues to slow. The March S&P CoreLogic Case-Shiller National Home Price Index gained 3.7 percent year-over-year in March, down from 3.9 percent in February and the lowest annual gain since September 2012. The index has been on a 12-month downward trajectory, falling from a 6.5 percent annual […]
Altos Hornos de Mexico (AHMSA) plans to increased steel production by 30 percent now that U.S. tariffs have been eliminated. The year-long Section 232 measures caused a 25 percent drop in AHMSA’s steel production and $300 million in lost revenue, said AHMSA President Alonso Ancira Elizondo. As orders from the U.S. fell due to the […]
British Steel Ltd. has been ordered into liquidation after failing to receive another bailout from the government. British Steel hoped to receive a $95 million support package from the government to help it with issues related to the U.K.’s withdrawal from the European Union. The government previously granted a $152 million loan to the company […]
Sales of new homes in April slid 6.9 percent from March to a seasonally adjusted annual rate of 673,000, according to the latest data released by the Department of Commerce. Sales were 7.0 percent higher than the April 2018 estimate of 629,000. The decline in sales followed a robust 723,000 sales pace in March and […]
Major steel producers in the U.S. had hoped the president wouldn’t blink on the Section 232 tariffs on Canada and Mexico—but he did—in an apparent effort to clear the way for passage of the new North American free trade agreement. Now the mills are supporting the administration’s demand that steel trade in North America be […]
Nucor Corp. and AK Steel were each recognized as a Supplier of the Year for Non-Fabricated Steel at General Motors’ 27th annual awards ceremony in Detroit on May 15. Recipients are chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Winners were selected based on performance criteria in Product Purchasing, […]