Tag: Manufacturing

New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

I joined in a Steel Market Update community chat last week. Predictably, many of the questions concerned the likely results of a Trump or Harris victory in the election. Like most people, I don’t know who will win. But by next week I probably will know. Here is my take, with an emphasis on steel policy. There are a surprising number of similarities between the Democratic and Republican candidates’ positions on steel policy. In part, that is because both candidates are going after the same voters—steel workers, whether unionized or not.

Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.

Metalformers in the US and Canada expect a decline in economic activity in the coming months, according to the recently released October Business Conditions Report from the Precision Metalforming Association (PMA). Approximately 37% of surveyed manufacturers anticipate weaker business conditions over the next three months. This rate is up from 31% in September but a […]

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.

Domestic steel champion Barry Zekelman joined SMU to discuss the latest issues impacting the US steel market.

After a brief pickup in September, manufacturing activity in New York state retreated into contraction, according to the October Empire State Manufacturing Survey.

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.

Wabash National and Steel Dynamics Inc. (SDI) have signed a 10-year supply agreement that secures “critical steel components” for Wabash’s growing operations, the company said in a press release.

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.

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

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.

US manufacturing activity contracted for a fifth straight month in August, as reported in the latest release from the Institute for Supply Management (ISM). The Index has indicated contraction in the manufacturing sector for 21 of the last 22 months.

New York state’s manufacturing activity improved in August but remained in contraction territory, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

US manufacturing activity contracted for a fourth straight month in July, as reported in the latest release from the Institute for Supply Management (ISM). The Index has indicated contraction in the manufacturing sector for 20 of the last 21 months.

The Chicago Business Barometer contracted further in July, according to Market News International (MNI) and the Institute for Supply Management (ISM).

Charter Manufacturing, a diversified metals manufacturer, has agreed to buy regional scrap metal recycler Niles Iron & Metal Co.

Six steel industry organizations have urged House Speaker Mike Johnson to include the Leveling the Playing Field 2.0 Act in any proposed package of legislation against China’s "unfair" trade practices.

Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).

Summer is here, and a familiar sentiment has hit the hot-rolled coil (HRC) futures market. Prices continue to decline in both the spot market and the futures market, with expectations of sub-$800 prices for the remainder of the year.

Galvanized prices have fallen precipitously from a month ago, though many market participants think a bottom is in sight.

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.

ArcelorMittal Mexico reached an agreement with the local mining union on Thursday, July 18, to end the 55-day blockade of its steelmaking and mining facilities in Lazaro Cardenas, Michoacán. While a large majority of Section 271 of the Sindicato Nacional de Mineros voted to accept the proposal, a group of unknown size continues to protest illegally and has even turned to violence, according to the company.

The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if your […]

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.

Steel Dynamics Inc.’s (SDI’s) earnings slid in the second quarter, but the company's top executive believes steel tags are set to rise.

There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!

The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.

New England’s All-Steel Fabricating announced the launch of its new road plate rental service.

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.