Prices on the CME U.S. Midwest Hot Rolled futures contract continued lower this week falling $9 per ton for the second half 2012 and declining $5 per ton for q1 2013. The June contract rolled off this week. The continued deteriorating global economic picture as well as renewed fears that China’s
The pending home sales index rebounded to a high of 101.1 in May, which is the same level seen in April 2010 after the home buyer tax credit. Compared to May 2011 and April 2012, pending home sales are 13.3% and
According to the Kansas Federal Manufacturing Survey for May, there was growth in the manufacturing sector. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City,
New orders for durable goods in May gained 1.1% to $217.2 billion, according to the U.S. Census Bureau. Transportation equipment had the largest increase of 2.7%
Raw steel production is falling and is now down from the peak achieved the week of May 12, 2012 when 2,005,000 tons were projected to have been produced at a projected capacity utilization rate of 81.1% according to the American Iron & Steel Institute (AISI). Since then, the AISI
On Wednesday, July 25th – Steel Market Update in partnership with Andre Marshall of Crunch Risk and in association with our friends at the CME Group will hold a one-day workshop about Managing Price Risk. During the workshop we will discuss and familiarize those present with the differences between Hedging and Speculation; Futures, Options and Swaps; trading terminology and how trades are made through the exchange (CME) or Over-the-Counter (SWAPS).
According to the Richmond Fed manufacturing survey, manufacturing activity in the central Atlantic region retracted in June after 6 months of expansion. The main index of manufacturing activity dropped 7 points to a -3 reading
The S&P/Case-Shiller Home Price Indices indicate that average U.S. home prices increased 1.3% in April. After 7 months of declines, April finally showed increases in both the 10- and 20-City Composites.
According to our latest Steel Market Update (SMU) steel survey results – those associated with the flat rolled steel industry do not believe there will be any labor issues when the USW contract expires at midnight on August 31st with U.S. Steel and ArcelorMittal. Only 12% of the respondents to our latest survey
Buyers and sellers of flat rolled steel are slightly more optimistic about their company’s chances of being successful in the current economic environment according to our most recent steel survey result. The Steel Market Update (SMU) Steel Buyers Sentiment Index was reported today to have