Steel Products
Chicago PMI
Written by John Packard
March 1, 2013
The Chicago Purchasing Managers reported the Chicago Business Barometer rose again, up 1.2 points to 56.8, its highest level since last March. There was improvement in New Orders, Order Backlogs, and Supplier Deliveries while Production and Employment expanded at a slower pace. New orders reported its third consecutive monthly gain and 11-month high while order backlogs had its fourth increase in five months. Inventories slowed down a bit from January’s high while employment continued to expand but at a slower pace than the previous month. Supplier deliveries had virtually no change while prices paid rose slightly. Capital equipment lead times shortened while M.R.O. supplies lead time lengthened slightly. (Source: Institute of Supply Management)

John Packard
Read more from John PackardLatest in Steel Products

U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.