Tag: employment

The construction sector added 25,000 jobs in September, driven by labor shortages and improved wages, according to data released by the US Bureau of Labor Statistics.

Growth in the US economy continues to crawl with little change in most districts. The Federal Reserve’s October Beige Book report showed three-quarters of reporting districts with flat or declining economic activity.

The construction sector added 25,000 jobs in July, driven by improved wage gains according to the Associated General Contractors of America (AGC).

The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.

A labor judge in Mexico City has ruled that the strike of a local mining union is illegal at ArcelorMittal Mexico’s Lazaro Cardenas mill and Las Truchas mine in Michoacán state, Mexico.

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.

New York state saw a continued decline in manufacturing activity in July, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Steel is, mostly for historical reasons, a bellwether of international policy. No longer an industry of primary importance, its advocates still proclaim that it is. And steel still continues to punch above its weight in Washington, DC. Below are a few recent examples.

The local mining union has rejected a proposal to end the labor strike at ArcelorMittal Mexico’s Lazaro Cardenas mill and Las Truchas mine in Michoacán, Mexico.

Canada’s industry minister Francois-Philippe Champagne has conditionally allowed a Glencore-led consortium to acquire Teck’s Elk Valley Resources (EVR) metallurgical coal business for $6.9 billion. He also raised the bar for foreign companies wanting to buy into the country’s critical mineral resources.

The Chicago Business Barometer rebounded in June following May’s four-year low, according to Market News International (MNI) and the Institute for Supply Management (ISM).

New York state manufacturers reported dismal business conditions in June. This is the seventh consecutive month of negative readings, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

SMU’s monthly at-a-glance articles summarize important steel market metrics for the prior month. This May report contains data updated through June 7. Steel prices for sheet and plate products continued to edge lower throughout May. The SMU Price Momentum Indicator was adjusted from neutral to lower at the beginning of the month. We saw a […]

The Chicago Business Barometer tumbled lower in May, now at the lowest measure recorded since May 2020 according to Market News International (MNI) and the Institute for Supply Management (ISM).

New York state continues to see deteriorating manufacturing business conditions through May, according to the latest Empire State Manufacturing Survey

Steel prices trickled lower across the month of April for both sheet and plate products.

The Chicago Business Barometer slipped further in April, now at the lowest measure recorded since November 2022.

New York state saw a continued decline in manufacturing activity in April, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, April 17, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here.

The Chicago Business Barometer slipped to a 10-month low in March, according to Market News International (MNI) and the Institute for Supply Management (ISM). The March Purchasing Managers Index (PMI) reading eased 2.6 points to 41.4, marking the fourth consecutive month it has been in contracting territory.

New York state manufacturing activity slipped deeper into negative territory this month, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

The construction sector added 23,000 jobs in February, boosted by nonresidential, according to the Associated General Contractors of America (AGC).

Economic activity across the US increased marginally from early January through the end of February, according to the latest Beige Book report from the US Federal Reserve.

Consumer confidence in the US declined in February after accelerating to a two-year high the month prior, The Conference Board reported. Results came in amid ongoing concerns regarding the US economy. The headline Consumer Confidence Index declined to 106.7 in February from a downwardly revised 110.9 in January. The index, which measures Americans’ assessment of […]

The United Steelworkers union expressed a lack of trust in assurances from Japan’s Nippon Steel Corp. (NSC) regarding its proposed buy of U.S. Steel.

The Italian government says it will appoint commissioners with specific steel-sector expertise in the coming days to assume control of the Taranto works, which is majority owned by ArcelorMittal.

The International Trade Commission (ITC) voted earlier this month against imposing antidumping and countervailing duties on imports of tin mill products from four countries. When Cliffs filed trade cases on tin mill products in early 2023, the company claimed that the failure to get massive duties on imports would result in the closure of its mill in Weirton, W.Va. We don’t know the reasoning behind this decision, only that all four sitting Commissioners voted not to impose duties. We do know that Cliffs plans to close Weirton.

Consumer confidence in the US rose in January and accelerated to a two-year high, The Conference Board reported. Results came amid slacking inflation and expectations that the Federal Reserve could soon start cutting interest rates. The headline Consumer Confidence Index rose to 114.8 in January from a downwardly revised 108.0 in December. The index, which […]

Trade is not the major focus of the campaigns for the 2024 elections, either at the presidential or congressional level. But it is there as a live issue for business. And last August, former President Trump suggested a 10% tariff on virtually all imports as a “ring around the collar” of the US economy.

The LME aluminum 3-month price was moving further down on the morning of Jan. 5 and was last seen trading at $2,287 per metric ton (mt) as of this article’s writing, already down 6% from its recent peak. SHFE cash also concluded the first week of the year on a weaker foot. The cash contract […]