The spot rate trend in the flatbeds has seen a positive upturn. There are potential rate accelerators and decelerators, however, likely to influence spot and contract flatbed rates. The flatbed market for spot rates is showing signs of improvement as we move through the new year. February increased slightly from January, marking the third consecutive […]
The LME Aluminum 3-month price is moving up again on the morning of Dec. 8 and was last seen trading at $2,157 per metric ton. The way the price increased first thing in the morning suggests a support may have finally been found, but resistance could hit quickly at $2,200 /metric ton. SHFE cash was […]
U.S. Steel said it has converted two of its diesel switcher locomotives to “state-of-the-art battery-operated locomotives.”
Trade policy moves create great ironies sometimes. I often write about these ironies when the US acts against the interests of the country as a whole by protecting certain industries from international competition. But the US is not alone, especially in recent years as the World Trade Organization and the international geopolitical order have been […]
The Biden administration over the last few months has articulated the need for a new global economic order. But to date, there is little in the way of ideas for implanting that order. Mostly, Katherine Tai, the US Trade Representative and Jake Sullivan, the National Security Advisor, have spoken about what’s wrong with the economic […]
The prices contractors pay for construction materials and services — chiefly for new nonresidential construction — jumped 20.2% year-on-year (YoY) in October and were up 3% month-on-month (MoM), the Associated General Contractors of America (AGC) reported in its latest analysis of government data. AGC cautioned that higher construction costs could undermine demand for projects, and urged […]
The potential for a rail strike in the US has been pushed back to early December. But concerns remain for the steel industry, which relies heavily on rail transportation. After rejecting a proposed national labor contract in October and reigniting the possibility of a rail strike, the Brotherhood of Maintenance of Way Employees (BMWE) Division […]
News that the Biden Administration is considering a total ban on Russian aluminum imports lifted the market Tuesday afternoon, Oct. 11. The LME aluminum three-month price increased sharply to a high of $2,400 per ton before some of the gains were reversed by the close. The price saw some volatile shifts during the week but […]
The prices contractors pay for construction materials and services — chiefly for new nonresidential construction — jumped 12.6% year-on-year (YoY) in September despite a slight 0.2% decline month-on-month (MoM), the Associated General Contractors of America (AGC) reported in its latest analysis of government data. AGC cautioned that the industry is suffering mostly from inflation, and […]
The Jones Act is in the news again. The Jones Act requires that all trade within the United States (including Puerto Rico) be carried on US-registered ships built in the United States and manned by crews composed of at least 90% American citizens or permanent residents. Last week, Secretary of Homeland Security Alejandro Mayorkas waived […]
The prices contractors pay for construction materials and services—chiefly for new nonresidential construction—declined 1.1% month-on-month (MoM) in August, as a steep drop in fuel prices masked increases in the cost of other construction inputs, the Associated General Contractors of America (AGC) reported in its latest analysis of government data. AGC cautioned that limited price declines […]
End use market demand is mixed as mid-year shipment data is reported The recession, inflation, and interest rates remain hot topics for aluminum producers and consumers. As new economic data is announced, both bright spots and points of concern emerge. First, this month’s report on inflation showed a drop month-on-month (MoM) and may signal that […]
The Energy Information Administration’s August Short-Term Energy Outlook (STEO) remains subject to a high level of uncertainty due to the volitle global energy market. Contributing factors include Russia’s invasion of Ukraine, foreign and domestic oil production levels, and OPEC+ production decisions. Due to these variabilities, the EIA continues to warn that actual price outcomes could […]
The prices contractors pay for construction materials and services – chiefly for new nonresidential construction – fell 1.3% month-on-month (MoM) in July, while contractors’ bid prices rose 5.4%, the Associated General Contractors of America (AGC) reported in its latest analysis of government data. AGC noted that despite the MoM decline, materials prices remain high and […]
The Energy Information Administration’s July Short-Term Energy Outlook (STEO) remains subject to a high level of uncertainty, driven by factors such as sanctions affecting Russia’s oil production, the production decisions of OPEC (Organization of the Petroleum Exporting Countries), and the rate at which US producers increase drilling. Due to these variabilities, the EIA continues to […]
The prices contractors pay for construction materials and services – chiefly for new nonresidential construction – rose by 1.1% month-on-month (MoM) in June, outpacing the rise in contractors’ bid prices, the Associated General Contractors of America (AGC) reported in its latest analysis of government data. AGC warned that rising materials prices were adversely impacting a […]
The Energy Information Administration’s June Short-Term Energy Outlook (STEO) remains subject to a high level of uncertainty due to factors such as sanctions affecting Russia’s oil production, the production decisions of OPEC (Organization of the Petroleum Exporting Countries), and the rate at which US producers increase drilling. Due to these uncertainties, the EIA continues to […]
By CRU Senior Analyst Puneet Paliwal, from CRU’s Global Steel Trade Service, May 23 The Indian government’s sudden move to levy a 15% tax on most exported steel products has surprised the steel industry. While an attempt has been made to soften the impact by exempting import tariff on coking coal/coke and raising export tax […]
What a whirlwind last week was. I want to thank Wolfe Research and Bank of America for inviting me to speak, the former virtually, the latter in person. I also want to thank Stanislav Zinchenko and the GMK Center for taking time to join us for what I thought was one of our better Community […]
What a whirlwind last week was. I want to thank Wolfe Research and Bank of America for inviting me to speak, the former virtually, the latter in person. I also want to thank Stanislav Zinchenko and the GMK Center for taking time to join us for what I thought was one of our better Community […]
The prices contractors pay for construction materials and services – chiefly for new nonresidential construction – jumped by more than 21% in April versus the same year-ago period, reports the Associated General Contractors of America (AGC) in its latest analysis of government data. The association has called for relief to hard-hit employers from tariffs, especially […]
The prices contractors pay for construction materials and services – chiefly for new nonresidential construction – jumped by more than 21% in March versus the same year-ago period, reports the Associated General Contractors of America (AGC) in its latest analysis of government data. The association has called for relief from tariffs, urging the Biden administration […]
While February construction employment exceeded pre-pandemic levels in nearly two-thirds of US states, the Associated General Contractors of America (AGC) cautions further gains could be undermined if skyrocketing materials costs and delayed shipments postpone or cancel projects. “Construction is doing well at the moment in most states, but fast-rising costs may cause some owners to […]
Nucor will implement a biweekly update to its current fuel surcharge effective Thursday, April 3, for some steel products. Certain divisions of the Charlotte, N.C.-based steelmaker said the move was necessary because “fuel prices are at all-time high levels,” in letters to customers dated Wednesday, March 16. SMU has seen matching letters from the company’s […]
Steel Market Update’s hot-rolled coil price was at $1,050 per ton ($52.50 per hundredweight) last week. Several mills are now offering hot band at $1,200 per ton ($60 per cwt). I don’t know where things will settle when we adjust prices on Tuesday. But I think it’s fair to say that prices will be significantly […]
In a letter to the White House on Thursday, the American Trucking Associations called on the Biden administration to boost domestic energy production and take other steps to provide relief at the pump for truckers and other motorists. Fuel is the second largest operating expense for trucking fleets, and surging diesel prices threaten to decimate […]
While 29 states now employ more construction workers than before the pandemic, construction employment is still below February 2020 levels in 21 states and D.C., underscoring how spiking materials prices and tight labor markets are undermining the sector’s recovery, said the Associated General Contractors of America. “Employment has risen in most of the nation over […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
For the fifth year in a row, the driver shortage topped the list of trucking industry concerns, as ranked by the American Transportation Research Institute in its 17th annual Top Industry Issues report released this week. The driver shortage garnered more than four times as many first-place votes as the number two issue, driver retention. Further […]
By Trade Attorney Lewis Leibowitz The announcement last week that the U.S. would work to provide secret technology to Australia for that country to build and operate nuclear-powered submarines turned heads in the United States, but blew minds in France. The nuclear sub deal also terminated a $66 billion deal for France to supply diesel-powered […]