Warmer than usual weather and strong demand has contributed to an increase in construction jobs, according to the Associated General Contractors of America. The press release from AGC follows:
Florida and Rhode Island Add Most Jobs for the Year; Mississippi Suffers Largest Decrease; Illinois and Alaska Top Monthly List; Mississippi and Virginia Have Biggest Month-to-Month Drops
Forty-three states added construction jobs between February 2016 and February 2017 while 39 states added construction jobs between January and February, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials noted that the despite the relatively widespread increase in construction employment, most states are still significantly below peak construction employment levels.
Steel Market Update concluded our analysis of the flat rolled steel markets on Thursday, March 23, 2017. One of the proprietary products produced out of our twice monthly flat rolled steel market trends analysis is the SMU Steel Buyers Sentiment Index which consists of Current and Future Sentiment Indices.
Our Current Sentiment Index as a single data point came in at +73. This is down 4 points from the +77 reported at the beginning of the month. Our Current Sentiment Index has consistently been over +70 for the past three months. Buyers and sellers of flat rolled steel continue to be very optimistic about their companies’ ability to be successful in the existing or current market environment (an explanation of our index is at the end of this article).
Our preference is to smooth out the data we receive so that we can present a better view of the over-all trend for the market. We do this by using a three-month moving average (3MMA). Our 3MMA for Current Sentiment is +73.50 which is the highest it has ever been improving on the +73.0 reported at the beginning of the month of March 2017.
This article covers iron ore, steel scrap, coking coal, and zinc spot prices. In this article, author Peter Wright reviews some of the key commodities and provides correlations that we believe our readers should be aware of and take into consideration when buying or selling steel. This data is normally reserved for our Premium level members but we decided to share it with our entire membership. This piece combines our own data analysis with recently published opinions that we find credible and is updated through March 23, 2017.
Nucor announced Wednesday that it plans to invest $85 million at its steel bar mill in Marion, Ohio. The upgrade of the rolling mill will help Nucor maintain a cost competitive position by reducing operating costs said CEO John Ferriola.
Steel Market Update (SMU) is pleased to announce the speakers confirmed to date for our 2017 Steel Summit Conference which will be held in Atlanta, Georgia on August 28, 29 & 30, 2017.
We continue to reach out to the most qualified speakers we can find on a wide range of topics that we feel will provide value to our SMU Steel Summit Conference attendees. This will be our 7th Steel Summit Conference and we are burning the midnight oil as we firm up our agenda and speakers.
Steel Market Update tries to vary our conference agendas from year to year based on what is happening with the economy, steel using and producing industries as well as those who distribute steel both domestic and foreign. Over the past couple of years, politics has become a big issue for the steel industry and it is a subject that cannot and will not be ignored in this year's conference.
We would like to share the SMU Steel Summit 2017 conference speakers we have confirmed to date and to advise those interested in attending that there are a few more segments where speakers are “to be determined.” We have invitations out there to fill out our program (including one to the Trump administration) and we will advise as those are resolved.
The Associated General Contractors of America report that construction employment is growing overall but with pockets of decline within states and metro areas. AGC says more training of qualified workers is needed to meet employment demands for future infrastructure construction. The press release from AGC follows:
Atlanta-Sandy Springs-Roswell, Ga. and Grand Forks, N.D.-Minn. Have Largest Year-over-Year Gains; Houston-The Woodlands-Sugar Land, Texas and Casper, Wyo. Experience Biggest Declines
Construction employment showed a mixed pattern geographically in the latest 12 months, increasing in 219 out of 358 metro areas between January 2016 and January 2017, declining in 104 and stagnating in 35, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that firms in many parts of the country are either benefitting from growing demand for construction or having a hard time finding enough qualified workers to keep up with demand, while firms in other parts suffer from declining demand.
Steel Market Update is pleased to announce the location and dates for our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop. We will be taking our workshop to Ontario, California on June 22 & 23, 2017 and we will tour California Steel Industries as part of our program.
We want to take a moment and thank CSI President & CEO Marcelo Botelho and Executive Vice President Ricardo Bernardes for the opportunity to have our attendees visit and tour the CSI steel mill.
Nucor Corporation increased its earnings guidance for first quarter 2017 to $1.10-$1.15 per diluted share, more than double its consolidated net earnings of $0.50 per diluted share in fourth quarter and well above analyst consensus of $0.69 EPS.
Increased profitability is due to stronger performance of Nucor’s sheet and plate mills. Nucor said in its earnings guidance that it is encouraged by the renewed demand in nonresidential construction and energy markets. Automotive remains strong, noted Nucor, while the heavy equipment market remains weak.
Steel Market Update (SMU) is pleased to announce that we have sold out the sponsor positions available for our 2017 SMU Steel Summit Conference which will be held in Atlanta, Georgia on August 28, 29 & 30th. We would like to take a moment to thank the companies who are helping to make our 2017 Conference a world-class event. If you happen to be speaking with one of the below companies thank them for helping keep our costs the lowest in the industry for a major steel conference:
The following is a press release from the American Institute for International Steel (AIIS):
Falls Church, VA. March 10, 2017. Steel imports started 2017 with a small increase, growing 3.1 percent from December’s total to reach 2.77 million net tons.
January’s imports were 7.4 percent higher than the January 2016 total.