Economy
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/4c0d8e17c6658fd7c6470f86113e2c9d.jpg)
January 2018 at a Glance
Written by Brett Linton
February 1, 2018
Industry data through the end January, including drivers of steel prices, supply and demand, are all pointing up as the year got off to a strong start. As the month ended, the Steel Market Update (SMU) Price Momentum indicator was pointing to higher flat rolled steel prices over the next 30 to 60 days as the domestic steel mills continue to raise prices.
Our SMU Steel Buyers Sentiment Index jumped during the month of January and reached an all-time high at +78. Future Sentiment also rose to an all-time high of +77. Based on a three-month moving average, our Buyers Sentiment Index ended the month at +71.33.
Benchmark hot rolled ended the month at $715 per ton and for the entire month averaged $685 per ton. Our average was slightly higher than the CME HRC Futures settlement price, which was $677 per ton. We were slightly lower than Platts, which averaged $687 for the month of December.
Zinc and aluminum spot prices on the LME continue to trade at historically high levels (over the past five years).
Many of the data items shown below are optimistic and represent a good start to 2018.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/04/SMU_BL_headshot-V4-150x150.png)
Brett Linton
Read more from Brett LintonLatest in Economy
Metalformers expect steady conditions in coming months
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).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/construction.png)
Architecture Billings Index rises from 4-year low in June
The Architecture Billings Index (ABI) ticked up in June following May’s four-year low, according to the American Institute of Architects (AIA) and Deltek. While the index improved this month, it continues to indicate weak business conditions among architecture firms.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/FedRes.png)
Beige Book: Uncertainty to continue fueling slower economic growth
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.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/AISI.png)
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
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.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/empire_state_1-scaled.jpg)
Manufacturing activity in New York state continues to soften
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.