Market Segment
August 5, 2021
Written by Michael Cowden
Ryerson recorded its best quarterly profits since 2008 in the second quarter and expects the good times to continue into the third.
“We’re not declaring an end to cyclicality in our industry, but noting strong secular growth underpinnings that have been supressed for a long time,” Ryerson President and CEO Eddie Lehner said during a conference call with analysts on Thursday, Aug. 5.
The Chicago Business Barometer rebounded in September, returning to expansion after slipping into contraction in August.
Welspun Tubular LLC, the US subsidiary of India’s Welspun Corp., has received an order to supply $412.5 million of high-frequency induction welded (HFIW) steel pipe.
Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.
The overall mill negotiation rate ticked up slightly this week, but the overwhelming majority of buyers are still finding mills inflexible on price, according to our latest survey data.
The latest Manufacturing PMI Report from the Institute for Supply Management (ISM) shows the US manufacturing sector experienced growth in September, albeit at a slightly lower pace than in the month before.