Steel Products
Empire State Manufacturing Index Slips from October High
Written by Sandy Williams
November 16, 2017
Manufacturing in New York State continued to expand in November, but the headline business conditions index of the Empire State Manufacturing Survey fell to 19.4 after reaching a three-year high in October. The November index lost 11 points and dropped more than expected, but solid gains in new orders and shipments indicate still brisk growth in the region. New orders climbed three points to 20.7 and shipments slowed a bit to an index reading of 18.4.
Inventories increased modestly in the November report. Delivery times were shorter and unfilled orders saw a small decline. Input prices were down slightly from October and selling prices increased.
{loadposition reserved_message}
Employment expanded at a somewhat slower pace, while workweek hours held steady.
Firms were very optimistic in the six-month outlook. The future business conditions index climbed five points to 49.9 and the future new orders gained nine points to reach 53.7, a multi-year high. Manufacturers expect to hire more workers in the coming months.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

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 […]