Economy

May 2018 at a Glance
Written by Brett Linton
May 31, 2018
Steel Market Update adjusted its price momentum indicator from neutral to higher in late May. Across the month, hot rolled steel prices averaged $886 per ton (up $13 over April), while cold rolled was at $1,007 (up $1), galvanized at $1,100 (unchanged), Galvalume at $1,322 (up $6), and plate at $966 (down $8).
The SMU Buyers Sentiment Index three-month moving average (3MMA) continues to inch down from the March high.
We are seeing a reduction in the monthly average capacity utilization rates, with the May average at 75.6 percent.
Active U.S. drilling rigs have increased consistently and ended May at 1,059 operating units.
Those are some of the highlights for the month of May. See the month-at-a-glance below for much more information on market conditions.
To see a history of our monthly review tables, visit our website.

Brett Linton
Read more from Brett LintonLatest in Economy

ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.

Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.

Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.

Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.

AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.