Tag: economy

Economic activity across the US experienced slight to moderate growth at the end of 2024, while manufacturing activity showed a slight decline

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

“U.S. manufacturing activity contracted again in December, but at a slower rate compared to November,” according to Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee.

President Joe Biden has blocked Nippon Steel's proposed buy of Pittsburgh-based U.S. Steel, citing national security reasons.

The December reading of 36.9 declined 3.3 points from the previous month to the lowest reading since May 2024.

Following a substantial recovery in November, business activity in New York state’s manufacturing sector held steady in December, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

US manufacturing activity contracted again in November for the eighth consecutive month.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events. Rather than summarizing the comments we collected, we are sharing some of them in each buyer’s own words.

SMU’s Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic about the success of their businesses, though that confidence has eased compared to earlier in the year.

The Chicago Business Barometer fell to a five-month low in October and continues to indicate deteriorating business conditions, according to Market News International (MNI) and the Institute for Supply Management (ISM).

In this Insight piece, CRU economists explore the possible economic effects of Trump's and Harris' agendas.

Heavy equipment manufacturer John Deere blamed soft demand and a reduction in orders for a spate of layoffs in Iowa this year, according to a local report.

Prices, demand, inventories, evolving market events... What are buyers and sellers of steel talking about this week?

US manufacturing activity contracted for the sixth consecutive month in September, according to the latest report from the Institute for Supply Management (ISM). The index has indicated a contracting industrial sector for 22 of the past 23 months.

The Chicago Business Barometer increased marginally in September but continues to indicate deteriorating business conditions.

The Conference Board reported that consumer confidence in the US dropped to one of the lowest readings of the year in September. With concerns mounting about business conditions and the labor market, the tumble was the biggest monthly decline since August 2021.

SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy.

The latest Federal Reserve data paints a healthy and stable manufacturing sector. Steel Market Update is pleased to share this Premium content with Executive members.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Growth in the US economy continues to struggle in most districts. The Federal Reserve’s Beige Book report for August shows two-thirds of reporting districts flat or declining economic activity.

Alan Beaulieu, president of ITR Economics, presented the final keynote at last week’s Steel Summit conference

“The US economy, despite some near-term weakness I suggest in early 2025, is going to be strong," Dr. Anirban Basu said this week.

A long-awaited reconsideration of the status of Vietnam as a “non-market economy” was completed by the Commerce Department earlier this month. Hundreds of companies, associations, and politicians weighed in on the question. On Aug. 2, Commerce released its conclusions in a 248-page memorandum, deciding that Vietnam remains a non-market economy (NME) under the US antidumping law. But what are the implications for Vietnam and for other countries with the same status?

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.

SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy. All told, nine key indicators point lower, 16 are neutral, and 13 point higher. One thing worth noting: The nine indicators pointing lower are all lagging indicators. Many of those pointing upward are leading indicators.

Cleveland-Cliffs is starting a new electrical distribution transformer production plant in Weirton, W.Va.

The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) have just over two months left to reach a new labor agreement and avoid a strike at all Atlantic and Gulf Coast ports. However, with talks still suspended, ILA’s president says a strike looks more likely with each passing day.

Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.