Market Data
August 22, 2023
Written by Laura Miller
The reshoring, or nearshoring, of manufacturing is real and happening now. And that trend is driving steel consumption, executives from Ternium and Reliance Steel & Aluminum said at SMU’s Steel Summit this week in Atlanta.
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.
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.