Written by: Sandy Williams The New Year began with promise for U.S. manufacturers. The ISM Manufacturing PMI registered 53.1 percent in January signaling expansion in the manufacturing sector for the second consecutive month and increasing 2.9 percent from December’s seasonally adjusted rate of 50.2. The overall economy rose for the 44th consecutive month according to […]
Written by: Sandy Williams The American Iron and Steel Institute commended Ambassador Ron Kirk for his cooperation with the steel industry during his four years of tenure in the Administration. AISI President and CEO Tom Gibson issued the following statement. “Ambassador Kirk is a dedicated public servant who helped lead U.S. trade policy at a […]
November apparent steel supply grew by 8 percent year-over-year to 8,468,720 tons. Imports were up by 28 percent (semi-finished being a major piece up 41.57 percent) while exports shrunk by almost 19 percent to just under 1,000,000 tons (998,040 tons). The United States increased its imbalance as a net importer (YOY) has grown apparent steel […]
Exports at lowest levels since February 2011
Written by: Sandy Williams Iron ore prices are at a 15 month high but are unlikely to stay that way say analysts. Currently, 62% Fe ore is at $158 per tonne, soaring from November’s price of $116 and almost doubling from the low of $87 per tonne in September. Analysts say the increase is a […]
Written by: Sandy Williams Schnitzer Steel, one of the largest U.S. manufacturer and exporter of recycled ferrous materials, reported adjusted operating income of $3 million for the first quarter of 2013, a drop of 81 percent from $15 million reported in first quarter 2011. The adjustment reflected a $2 million pre-tax restructuring charge associated with […]
Written by: Sandy Williams The JP Morgan Global Manufacturing PMI rating increased to 50.2 in December from 49.6 last month according to data released in a composite index produced by JPMorgan and Markit in association with ISM and IFPSM. It is the first time the index has been above the neutral mark of 50.0 since […]
The Institute for Supply Management increased its manufacturing purchasing managers’ index to 50.7 in December from 49.5 in November. A rating above 50 indicates an expansion in activity. The ISM uptick comes in tandem with Markit data, also released on Wednesday, that put the Markit US PMI rating at 54.0 in December—a jump from 52.8 […]
Of the 33,512,516 net tons of total imports projected by Steel Market Update to be received into the United States during calendar year 2012 some 7,584,955 net tons are forecast to be semi-finished. Semi-finished products include slabs, billets and blooms – however, the vast majority of them are slabs being imported by the domestic steel […]