Economy
SMU's April At-a-Glance
Written by Brett Linton
May 1, 2020
Both steel and scrap prices decreased in the month of April, down anywhere from $15 to $75 per ton between each product, as the effects of the coronavirus shutdowns impacted the market.
SMU Buyers Sentiment Index readings showed significant declines over March, with Current Sentiment sliding into negative territory and reaching a low of -8, Future Sentiment as low as +10, and the three-month moving average at +18.33 as of Friday.
SMU moved its Price Momentum Indicator to Neutral from Lower as the market showed signs of firming and the mills announced price increases on flat rolled products.
Key indicators of steel demand were mixed, with only some of our data points reflecting the downturn. The AIA Billings Index fell to 33.3, and private employment shrunk by 713,000 jobs.
See the chart below for other key metrics in the month of April:
Brett Linton
Read more from Brett LintonLatest in Economy
Architecture firm billings ease further in December
Architecture firms reported a sharp reduction in billings in December, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Fed indicators show continued stability in manufacturing
Recent Federal Reserve data indicates that the US manufacturing sector remains healthy and stable. The strength of the manufacturing economy has a direct relationship to the health of the steel industry.
January energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products.
New York state manufacturing fell in January
“Price increases, while subdued, picked up,” Richard Deitz, Economic Research Advisor at the New York Fed. “Firms grew more optimistic that conditions would improve in the months ahead.”
Beige Book shows mixed economic trends, manufacturing challenges, tariff concerns
Economic activity across the US experienced slight to moderate growth at the end of 2024, while manufacturing activity showed a slight decline