The Institute for Supply Management’s Manufacturing ISM Report on Business expanded for the 111th month in July. The PMI registered a solid 58.1, although decreasing 2.1 points from the June reading of 60.1 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally […]
My life these days is consumed by our upcoming SMU Steel Summit Conference, our brand-new Steel 201: Introduction to Advanced High Strength & Other New Steels workshop and the next SMU Steel 101: Introduction to Steel Making & Market Fundamentals workshop, as well as writing articles and trying to stay on top of the flat […]
Manufacturers saw business rise in June at the fastest pace in four months. The ISM Manufacturing Index surpassed expectations by jumping to 60.1 percent from 58.7 percent in May. A reading above 50 indicates growth. New orders expanded for the 14th consecutive month, but inventories remained too low for a fourth month as suppliers struggled […]
Economic indicators of manufacturing activity continue to look favorable for the rest of 2018. This report summarizes seven data sources that describe the state of manufacturing in the United States. We have reported on most of these separately in our Steel Market Update publications and therefore will be brief in this summary. We don’t expect […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following update on trade events in Washington: Canada, Mexico and the nations in the European Union threatened to retaliate against Trump administration tariffs they consider grossly unfair and, true to their word, have announced tariffs of their own on a host of exports […]
Consumers in the United States may soon see their favorite products increase in price or become harder to find. In retaliation for Section 232 tariffs on U.S. steel and aluminum, Canada plans to impose its own 25 percent and 10 percent tariffs on a wide variety of goods. The 25 percent tariff is restricted to […]
Manufacturing activity in the U.S. remains robust and economic indicators continue to point to a strong 2018, according to Steel Market Update’s latest analysis. This report summarizes seven data sources that describe the state of manufacturing in the United States. We have reported on most of these separately in our Steel Market Update publications, and […]
Indicators of manufacturing activity point to a strong first half for the U.S. economy and the steel industry. This report summarizes seven data sources that describe the state of manufacturing in the United States. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief in […]
ArcelorMittal said it will sell off assets in order to secure its acquisition of Italian steel mill Ilva. The proposed divestment package includes: ArcelorMittal Piombino, the company’s only galvanized steel plant in Italy ArcelorMittal Galati, Romania ArcelorMittal Skopje, Macedonia ArcelorMittal Ostrava, Czech Republic ArcelorMittal Dudelange, Luxembourg Hot-dipped galvanizing lines 4 and 5 in Flemalle; hot-rolled […]
Economic indicators of manufacturing activity in the United States remain strong and portend well for the first half of 2018. This report summarizes seven data sources that describe the state of manufacturing in the U.S. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief […]
Economic indicators of manufacturing activity remain strong and continue pointing to good demand for steel at least through mid-year. This report summarizes seven data sources that describe the state of manufacturing in the United States. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief […]
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President Trump has made no official announcement about his plans for Section 232, leaving the steel market to speculate on last week’s Commerce Department recommendations. The majority of respondents to this week’s Steel Market Update market trends questionnaire are guessing he will come up with his own solution to combat unfair imports. The Commerce recommendations […]
The possible forthcoming Section 232 decisions on steel and aluminum imports have alarmed nations across the globe. Commerce Secretary Wilbur Ross said he “wouldn’t be surprised if there were retaliations to the measures,” but perhaps he underestimated the negative response to his recommendations. Numerous countries have expressed concern for their own domestic markets, while others […]
Economic indicators are strong overall and portend well for the first half of 2018. This report summarizes seven data sources that describe the state of manufacturing, construction, steel activity and the overall market in the United States. We have reported on most of these separately in our Steel Market Update publications, and therefore will […]
The Italian-Argentine industrial consortium Techint Group and its Ternium subsidiary are planning to construct a $1 billion hot rolled steel mill in Monterrey, Mexico. The mill will be part of an expansion of Techint’s industrial center in Nuevo León, where the consortium first started operations in 2013. The rolling mill will have an annual capacity […]
Economic indicators of manufacturing activity are still healthy overall and suggest conditions should remain positive for the balance of this year and into the first quarter of 2018. This report summarizes seven data sources that describe the state of manufacturing in the U.S. We have reported on most of these separately in our Steel Market […]
Stelco, Inc., Canada’s iconic steelmaker, has new life under the new ownership of Bedrock Industries. Bedrock Executive Chairman and CEO Alan Kestenbaum makes a strong case that the oft-troubled steelmaker is poised for a turnaround. Stelco went into creditor protection in 2004, was bought by U.S. Steel in 2007, then went back into bankruptcy in […]
ArcelorMittal is helping to keep Cleveland neighborhoods safe by melting down unwanted guns. The steelmaker provided funding, and a hot furnace, to the Cleveland Police Foundation’s 11th Annual City of Cleveland Gun Buyback event Oct. 21. Citizens received $100 gift cards from True-North-Shell, Target, and Dave’s Supermarket in exchange for turning in their unwanted guns. […]
Economic indicators of manufacturing activity are still healthy overall and portend well for the balance of this year. This report summarizes seven data sources that describe the state of manufacturing in the U.S. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief in this summary. […]
Two popular appliance manufacturers, Samsung and LG, are facing potential quotas and tariffs on imports of their products to the United States. Earlier this month, following a global safeguard petition by Whirlpool, the U.S. International Trade Commission voted unanimously in a Section 201 investigation that a surge of large residential washer (LRW) imports was injuring […]
What goes around comes around, as they say. In the case of the ferrous scrap market, what goes around and comes around again and again are residuals such as copper that complicate the steelmaking process and threaten to erode some of the competitive cost advantage now held by minimills. Minimill steelmaking has transformed the steel […]
Economic indicators of manufacturing activity are still healthy overall and portend well for the balance of this year. This report summarizes seven data sources that describe the state of manufacturing in the U.S. We have reported on most of these separately in our Steel Market Update publications, therefore will be brief in this summary. We […]
Hurricanes Harvey and Irma were devastating for the many Americans still struggling to recover from the damage. But for the scrap metal market, contrary to common belief, the storms will be a mere blip. “Everyone’s immediate reaction to Harvey is, ‘Oh, there will be so much scrap coming out of Houston, prices will drop.’ The […]
Pictures of countless cars and trucks submerged in Houston floodwaters and homes shattered by high winds in the Southeast have the worth of a thousand words in describing the destruction from Hurricanes Harvey and Irma. What they say about post-storm conditions in the ferrous scrap market is less clear. For those who assume thousands of […]
Ferrous scrap prices were expected to rise by $20 to $30 per gross ton once the September negotiations began. By Thursday afternoon (today), we were learning that steel mills are suddenly able to buy at sideways numbers. We understand North Star BlueScope was able to buy September at the same prices as August. Other sources […]
Manufacturing activity in the U.S. expanded in July, though the PMI declined 1.5 percentage points to a reading of 56.3, reports the Institute for Supply Management in its latest Manufacturing ISM Report On Business. The PMI has remained above the neutral 50.0 point for 11 consecutive months indicating growth in manufacturing. Although still at robust […]
Manufacturing activity expanded in May according to the Manufacturing ISM Report on Business. The PMI rose 0.1 percent from April to a reading of 54.9 percent. The new orders index rose 2 points to 59.5 percent while the production index declined 1.5 points to 57.1. Inventories were relatively stable in May. The inventory index rose […]
Steel Market Update (SMU) has been contacted by end users, distributors and steel mills regarding an article published by another trade publication on Galvalume. The article, which was published on Thursday, May 18, 2017, quoted Keith Medick, president and CEO of Union Corrugating Company, as he made the point that there is not enough light […]
Construction has expanded in the U.S. for over 30 quarters, and it still has legs, said Alex Carrick, Chief Economist at ConstructConnect. ConstructConnect presented a webinar May 11, entitled “Bump or Slump? 2017 Prospects for Design & Construction. AIA chief economist Kermit Baker and AGC of America Chief Economist Ken Simonson joined Carrick in discussing […]