Hurricanes are a yearly occurrence for the southern U.S., taking huge tolls on property and lives and causing major disruption for the shipping industry. Hurricane Dorian, still churning its way up the East Coast, is the latest example. In preparation for Hurricane Dorian, Florida manufacturers rushed to get goods shipped North and out of flood […]
Our analysis of 11 manufacturing indicators suggests that growth is slowing and, if trends continue, will become negative in the fourth quarter. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market […]
The trucking industry won a major victory in securing a promise from the U.S. Trade Representative’s office that it will not impose tariffs on imports of Chinese-made 53-foot domestic intermodal containers. The 10 percent tariff scheduled for imports of the intermodal containers would have cost the logistics sector an additional $63 million in the first […]
Canadian ports in the Pacific Northwest have benefited from the U.S. trade war with China. Vancouver and Prince Rupert have seen combined market share for regional imports and exports increase from 59 percent in 2014 to 62.3 percent in the first half of 2019, according to JOC.com. The port at Seattle-Tacoma saw exports from the […]
Most indicators of manufacturing activity are still positive, but if trends continue, growth will become negative by late summer. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market Update publications, and […]
Most indicators of manufacturing activity are still positive, but if trends continue growth could become negative by late summer, according to Steel Market Update’s latest analysis. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately […]
Economic indicators of manufacturing activity are strong, though the growth rate is slowing. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief in this […]
Most indicators of manufacturing activity are still positive, but evidence of a slowdown is indisputable. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market Update publications and therefore will be brief […]
Economic indicators of manufacturing activity are strong, though the growth rate is slowing. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief in this […]
U.S. ports reported a record year for cargo volume in 2018. The Port of Los Angeles broke its all-time cargo record for the third time in a row, moving 9,458,749 TEUs (twenty-foot equivalent units the size of a container), a 1.2 percent increase from 2017. The Port of New Orleans reported a new record and a […]
Olympic Steel announced the acquisition of McCullough Industries, a manufacturer of self-dumping hoppers for industrial applications. The all-cash purchase closed on Jan. 2. McCullough and Wright branded containers are recognized nationally for their durability and performance, the company claims. Constructed from carbon and stainless steel, the hoppers are produced in a variety of configurations. Easily […]
Steel Market Update is pleased to include the following Premium content in this Executive issue. For more information about upgrading to a Premium-level subscription, email info@SteelMarketUpdate.com. Economic indicators of U.S. manufacturing activity are strong, though growth is slowing. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the […]
Demand remains strong in the manufacturing sector, according to the latest Manufacturing ISM Report on Business. The PMI, from the Institute for Supply Management, increased 1.6 percentage points to 59.3 in November. A PMI reading above 50 indicates expansion. New orders rose 4.7 points to 61.1, well above the 52.4 percent value that indicates growth. […]
Tariffs are turning out to be a boon for U.S. ports, at least temporarily, as retailers and manufacturers rush to get products to the U.S. before new tariffs on China go into effect in January. Ports reported record cargo volumes in the past few months. The Port of Los Angeles set a cargo handling record […]
Steel Market Update is sharing the following Premium-level article with its Executive-level members this issue. For more information on upgrading to a Premium subscription, email info@SteelMarketUpdate.com. Economic indicators of manufacturing activity remain strong. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We […]
I will be in Houston, Texas, on Wednesday and Thursday of this week as I am speaking to two groups, the Industrial Packaging Alliance of North America (IPANA) and the Reusable Industrial Packaging Association (RIPA). Member companies are producers and re-conditioners of a wide range of industrial packaging including steel, plastic and fiber drums, as […]
Economic indicators of manufacturing activity remain strong. This report summarizes 10 data sources that describe the state of manufacturing in the United States. We have reported on most of these separately and therefore will be brief in this summary. We don’t expect these data sources to all point in the same direction. Our intent in […]
Ferrous scrap prices have been on the decline, but may find a bottom in October, as most Steel Market Update sources forecast flat to slightly higher pricing next month. CRU Steel Analyst Ryan McKinley reports that sentiment seems to be building for a “strong sideways” market in October. “If this play’s out, it will be […]
Economic indicators of manufacturing activity continue to look favorable for the rest of 2018. This report summarizes nine 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 […]
Two of the nation’s busiest cargo ports reported record months in July. The South Carolina Ports Authority handled 200,594 twenty-foot equivalent container units (TEUs) during the first month of fiscal year 2019, marking the strongest July on record and second-highest monthly container volume in the port’s history. The Georgia Ports Authority recorded its second busiest […]
There are no clouds on manufacturing’s horizon. Economic indicators of manufacturing activity are virtually all positive for the remainder of 2018, according to Steel Market Update’s analysis of nine 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, […]
The industries that move the nations’ freight are scrambling to find ways to mitigate risks from U.S.-imposed tariffs and foreign-imposed retaliatory tariffs that will impact supply lines and trade flow. Volatility seems to be the new normal as industries face uncertainty over international trade conflicts. Ports Prepare for Tariff Disruptions The Trump administration’s addition of […]
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 […]
U.S. Steel has promoted Daniel M. Killeen to the position of General Manager Gary Works effective immediately. Killeen will be responsible for the day-to-day operations of U.S. Steel’s largest integrated steelmaking facility. Killeen joined U.S. Steel in 1996 as a Management Associate at Gary Works. He went on to work in a series of increasingly […]
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 […]
Ferrous scrap prices have declined a bit in May, reported Steel Market Update sources, due to weakness in the export market and warmer spring weather that aided scrap collection and boosted supplies. Looking ahead to June, sources expect further change, but they disagree on the degree and direction. In the Ohio Valley, prices declined, but […]
Shortage of truck availability and drivers is putting the squeeze on freight shipments in May. Anecdotal comments in steel earnings reports indicate mills and distribution centers are having difficulty finding trucks to move their products and higher freight costs are increasing operating costs. Steel Market Update looks at some of the current issues facing freight […]
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 […]
A lot is going on in shipping markets as uncertainty regarding the U.S. trade situation takes hold. Tariffs are expected to affect import volumes at coastal and inland ports. Truck availability continues to be an issue with the flatbed load-to-truck ratio soaring past 100 last week and prices on the increase. Barges are frustrated by […]