Economy
March at a Glance
Written by Brett Linton
March 31, 2019
Looking back at the key indicators for the month of March, steel prices saw a modest increase following mill price increase announcements in January and February. The benchmark price for hot rolled averaged $698 per ton, according to SMU data, up $16 from February, but flat with the price in January. Prices for cold rolled and coated steels maintained more upward momentum. SMU’s Pricing Momentum Indicator remains at Higher, meaning prices are expected to increase over the next 30-60 days.
Steel Buyers Sentiment has trended flat to down slightly so far this year, most likely reflecting uncertainty in the market over tariffs and trade and only modest strength in steel prices.
Scrap prices increased by about $30 per ton in March, lending support to prices.
The price of zinc on the LME has trended upward in the first quarter to about $1.29 a pound, while the U.S. rig count has declined.
See the chart below for other March data.
To see a history of our monthly review tables, visit our website here.
Brett Linton
Read more from Brett LintonLatest in Economy
Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey