Market Data
September 16, 2020
Written by Brett Linton
U.S. manufacturing indicators continued to show signs of improvement in July and August data as the economy recovers from the coronavirus shutdowns. The health of the manufacturing economy has a direct bearing on the health of the steel industry.
The Industrial Production Index
The latest tally of active drilling rigs increased in Canada while slightly easing in the US this week, according to oil and gas rig count data published by Baker Hughes.
SMU’s Current Steel Buyers’ Sentiment Index fell this week, while Future Sentiment remained flat, according to our latest market survey.
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.
The Chicago Business Barometer rebounded in September, returning to expansion after slipping into contraction in August.
Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.