Manufacturing activity in the U.S. continued to expand in December, but at a much lower pace, according to the latest ISM Report on Business. The December PMI fell 5.2 percentage points to 54.1 with indexes for new orders slipping 11 points and production slipping 5.3 points from November. The average PMI score for 2018 was […]
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 […]
The U.S. economy is on track to grow further next year, say purchasing executives surveyed by the Institute for Supply Management, continuing the trend that began in mid-2009. In its December 2018 Semiannual Economic Forecast, ISM reported that the manufacturing sector is optimistic about business conditions in 2019, with revenues expected to increase in 17 […]
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. […]
Global manufacturing remained stalled in November. The J.P. Morgan Global Manufacturing PMI stayed at 52.0, unchanged from the 23-month low posted in October. Growth in new orders and production was subdued with the greatest expansion noted in the consumer sector. Improved business conditions were seen in the U.S, Eurozone, Japan, China, the UK, Brazil and […]
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 […]
Manufacturing activity continues to be strong, according to the latest ISM Report on Business, although slowing its pace of growth as it enters the fourth quarter. The October PMI declined 2.1 percentage points from September to register 57.7 percent. Most of the components of the PMI are trending at a slower rate. The new orders […]
Reliance Steel & Aluminum Co. is now the sole owner of Acero Prime and its affiliate Acero Prime Servicios, a toll processor with four locations in Mexico. Reliance was the majority owner but purchased the remaining 40 percent interest from joint venture partner U.S. Steel. Terms of the transaction were not disclosed. “Acquiring the remaining […]
Ford Motor Co. is calling on the administration to resolve steel and aluminum disputes that will cost the company more than a billion dollars in annual profits this year and next. The Section 232 tariffs have pushed U.S. steel prices well above those of foreign competitors and higher than Ford was expecting. “U.S. steel costs […]
Commerce has issued a preliminary affirmative determination in the countervailing duty investigation of steel propane cylinders from China. A preliminary subsidy rate of 42.77 percent has been assigned to Shandong Huanri Group and producers and exporters in the “all other” category. A preliminary rate of 145.37 percent has been assigned to TPA Metals and Machinery […]
ArcelorMittal announced a binding offer from Liberty House Group for the purchase of ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia) and ArcelorMittal Piombino (Italy). The transaction is part of a divestment package agreed to by ArcelorMittal with the European Commission for the €1.8 billion acquisition of Italian steel mill Ilva. The ArcelorMittal […]
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 […]
Manufacturing expanded in September, according to the latest Manufacturing ISM Report on Business. The headline PMI posted at 59.8 percent, well over the neutral point of 50.0, but fell 1.3 percent from August. “Export orders expanded, but four major industries are no longer contributing. Price pressure continues, but the index softened for the fourth straight […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: A rather eventful few days on the tariff and legal fronts: Final list of $200 billion in trade value of imports from China: The USTR announced the final list (“list 3”) of $200 billion in […]
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 […]
The ISM Manufacturing Index reached a 14 year high as new orders, production and employment made strong gains in August. The Index issued by the Institute for Supply Management, jumped 3.2 points to a reading of 61.3, far exceeding the consensus for a posting of 57.6. New orders increased 4.9 points to 65.1, production 4.8 […]
U.S. Steel announced on Thursday that it will invest a minimum of $750 million for asset revitalization at its Gary Works facility in Indiana. “We are pleased to be making this significant investment at Gary Works, which will improve the facility’s environmental performance, bolster our competitiveness and benefit the local community for years to come,” […]
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, […]
ArcelorMittal NAFTA posted sales of $5.4 billion for the second quarter of 2018, a jump of 12.7 percent from the first quarter. Steel shipments increased by 4.4 percent to 5.8 million metric tons. Improved results were driven by strong market demand and higher shipment volumes. NAFTA segment EBITDA rose 19.6 percent year-over-year. NAFTA segment crude […]
The Institute for Supply Management’s Manufacturing ISM Report on Business expanded for the 111th month in July. The PMI registered a solid 58.1, although decreasing 2.1 points from the June reading of 60.1 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally […]
While manufacturers generally reported favorable business conditions all over the United States, companies in all the Federal Reserve Districts pointed to Trump administration tariffs as cause for concern, according to the Fed’s July 18 Beige Book report. Economic activity continued to expand across the United States, with 10 of the 12 Federal Reserve Districts reporting […]
Manufacturers saw business rise in June at the fastest pace in four months. The ISM Manufacturing Index surpassed expectations by jumping to 60.1 percent from 58.7 percent in May. A reading above 50 indicates growth. New orders expanded for the 14th consecutive month, but inventories remained too low for a fourth month as suppliers struggled […]
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 […]
The trade war with China has begun. On June 15, the United States announced it will place 25 percent tariffs on $50 billion of Chinese goods. The announcement was swiftly followed by one from China imposing retaliatory tariffs in an equivalent amount. In a statement on Friday, President Trump said: “My great friendship with President […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: The Trump administration announced new tariffs on China on Friday, covering about $36 billion in imports (2017 figures). Two lists were released. The first list consists of 863 tariff lines that will be subject to […]
Supply executives polled for the Manufacturing ISM Report on Business reported strong business conditions in May. The PMI rose 1.4 points to 58.7 percent as new orders, production and employment continued to expand. Inventories are struggling to keep pace with demand. Longer supplier lead times and freight uncertainty is impacting inventory levels, said Timothy R. […]
The American iron and steel industry supports nearly two million jobs and contributes more than $520 billion to the U.S. economy, when considering the direct, indirect (supplier) and induced impacts of related commerce, claims a study released last week by the research firm John Dunham & Associates. The study also shows that the iron and […]
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 […]