The American Iron and Steel Institute’s (AISI) Board of Directors today welcomed two new directors — Michael McQuade, Algoma Steel Chief Executive Officer, and Ed Ramsey, Regional President-North America for Harsco Metals and Minerals. “Michael McQuade and Ed Ramsey are tremendous ambassadors for the steel industry, and I am excited to welcome them to the […]
The Conference Board’s measure of consumer confidence in May was the highest since last November. This is quite a volatile indicator; therefore, we prefer to smooth the data with a moving average to reduce monthly volatility. The composite value of consumer confidence in May was 134.1 with a three-month moving average (3MMA) of 129.2. The […]
China’s crude steel production in April exceeded an annualized rate of one billion tons for the first time as the Asian giant continues to grow its global market share, according to Steel Market Update’s analysis of the latest World Steel Association data. On March 27, the OECD Steel Committee reported: “Low growth prospects for the […]
Metalforming companies are expecting a downward trend in business conditions for the next three months, according to 119 metalforming companies surveyed by the Precision Metalforming Association. The PMA Business Conditions Report for May shows only 19 percent of those surveyed expected economic activity to improve. About 24 percent expected orders to decline, an increase from […]
The MNI Chicago Business Barometer gained 1.6 points in May to register 54.2. Survey responses showed softening in both manufacturing business activity and confidence. The three-month average for the Index slipped to a two-year low, said MNI Indicators. Production and new orders rose in May, but not enough to make up for weaker levels in […]
Chinese steel trade data was recently released for the month of April 2019, providing updated data on iron ore imports, scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in April totaled 80,770,000 metric tons, a decrease of 6.5 percent from the previous month, and a decrease of 2.6 percent from […]
Crude steel production worldwide increased by 6.4 percent in April, compared with April 2018, totaling 156.7 million metric tons, reported the World Steel Association in Brussels. WSA members represent about 85 percent of global steel production. China led the increase with crude steel production of 85 million tons, a jump of 12.7 percent from April […]
United Steelworkers International President Leo Gerard will retire after 50 years of service. Gerard began his association with the USW as a union staff representative and ultimately became a District Director, the National Director for Canada, International Secretary-Treasurer and finally in 2001 the USW’s International President. Gerard was a constant and strong voice for the […]
Strong and healthy competition has always existed between the steel and aluminum industries as each vies to capture and retain market share through innovation, advertising, pricing and other strategies. However, beyond this story of upstream competition, both materials are integral to a wide range of manufactured products and are widely purchased, fabricated and distributed by […]
Trade tensions with China and a slower economy took a toll on durable goods orders in April. Orders fell 2.1 percent in April to a seasonally adjusted $248.4 billion, reported Commerce. April’s data includes a revision for March new orders to $506.2 billion from $508.5 billion. Civilian aircraft led last month’s decline, plummeting 25 percent […]
U.S. gross domestic product grew in every region of the country in all four quarters of 2018, according to Bureau of Economic Analysis data. The BEA introduced a new data set for GDP by state and region in 2014 and backdated it to Q1 2005. This week, the data was updated through Q4 2018. Even […]
In this report, we examine the change in currency values of the 16 pre-eminent global steel and iron ore trading nations. The currencies of these 16 don’t necessarily follow the broad index value of the U.S. dollar. In fact, at any given time, some are always moving in the opposite direction. The latest value of […]
Last year, the number of companies reporting new reshoring and foreign direct investment (FDI) jumped by 38 percent over 2017, accounting for 145,000 new jobs in the U.S. The total number of manufacturing jobs brought to the U.S. from offshore is now over 757,000 since the manufacturing employment low of 2010, reports the Reshoring Initiative, […]
Demand for long products and tubular goods have shown strong growth, but sheet products are declining. This analysis by SMU staff is based on data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce (DoC). The analysis summarizes total steel supply by product from 2003 through March 2019 and year-on-year […]
The competitiveness of steel continues to lose ground against aluminum and plastic, according to the latest data from the Bureau of Labor Statistics. Cold rolled steel sheet has become less competitive against aluminum sheet in the last year and this has carried through to steel and aluminum cans. Steel tubular goods have lost ground to […]
The Associated General Contractors of America applauded the Trump administration’s plan to welcome skilled immigrants to the United States. AGC says the immigration policy would help the construction industry fill workforce shortages. Trump’s plan would prioritize approval of immigrants based on skill or merit. The points-based system would favor young, educated, highly-skilled individuals who can […]
Flat rolled steel prices continue to be under pressure even though mill capacity utilization rates continue to be above 80 percent. However, our own analysis of the flat rolled markets has been showing a steady decline in lead times, which suggests weakening order books. One thing those involved in the steel industry need to be […]
Business activity in New York State rose sharply in May, according to the latest Empire State Manufacturing Survey. The general business conditions index gained eight points for a reading of 17.8, its highest level in six months. Manufacturers reported a jump in new orders and shipments and an increase in backlogs. Inventories were slightly below […]
Your invitation from CRU’s steel team: CRU invites you to view the recent steel webinar with CME Group and join us in person on Monday, June 17, for the New York Steel Briefing at the Sheraton Times Square Hotel. Registration for the New York Steel Briefing is required and seats are limited. Please register today […]
Ronald J. O’Malley has been appointed president of the Association for Iron & Steel Technology (AIST) for 2019–2020. O’Malley succeeds James F. Dudek of United States Steel Corp. O’Malley is the F. Kenneth Iverson Chair Professor in Steelmaking Technologies and director of the Kent D. Peaslee Steel Manufacturing Research Center at the Missouri University of Science […]
Final figures show that the EU28 steel market grew in 2018. However, forecasts estimate that it will fall slightly in 2019, reports the European Steel Association (EUROFER). The preliminary safeguard measures in place since mid-2018 could not prevent third country imports from rising sharply over the year and, as a consequence, local steel producers are […]
The recovery from February’s very poor rate of job creation continued through April. Net job creation in April was 263,000, February was revised up by 23,000 to 56,000 and March was revised down by 7,000 to 189,000, according to Bureau of Labor Statistics data. Rising employment and wages are the main contributors to GDP growth […]
Steel mill shipments have declined slightly since November on a seasonally adjusted basis, while the inventory-to-shipment ratio has increased slightly since October, according to Steel Market Update’s latest analysis of Census Bureau data. Steel trade association data from the AISI and MSCI is most widely used to assess the state of the industry. In addition, […]
Ryerson President and CEO Eddie Lehner said he expected the price of ferrous scrap to fall by $20-30 per ton in May, not to fall to $230 per ton as reported in Thursday’s issue of Steel Market Update in an article on Ryerson’s quarterly conference call. Lehner was also misquoted in a comment that should […]
Global manufacturing activity appeared lackluster in April. The J.P. Morgan Global Manufacturing PMI hovered just above the no change mark at 50.3, down from 50.5 in March, and at its lowest reading since June 2016. “The global manufacturing sector remained subdued at the start of the second quarter, with the PMI barely above the 50.0 […]
Democrat congressional leaders and President Trump agreed on Tuesday to work together towards a $2 trillion infrastructure package, a breakthrough that is supported by the construction and trucking industries. Associated General Contractors of America CEO Stephen E. Sandherr said quick action is needed to pass an infrastructure package that would fund “needed investments to aging and […]
Southwark Metal Manufacturing Co., maker of sheet metal duct and fittings, has opened a new manufacturing plant in Phoenix, Ariz. The new facility enhances Southwark’s presence, manufacturing capabilities, and customer support throughout the Southwest, allowing the company to service customers in all 50 states. The 75,780-square-foot facility is poised to service HVAC distributors in Arizona, […]
May 20 is the launch date for a new digital marketplace and online community that aspires to streamline the way steel is bought and sold. The new e-commerce site known as FeLUX.com (pronounced fee-lux) is a digital platform designed to allow users to connect, transact and manage their businesses with greater efficiency. Buyers and sellers […]
The growth of U.S. GDP in Q1 2019 increased to 3.2 percent and exceeded economists’ expectations. On Friday, the Bureau of Economic Analysis (BEA) released the first estimate of GDP growth in the first quarter of 2019 stating: “Real gross domestic product (GDP) increased 3.2 percent in the first quarter of 2019, according to the […]
Business activity unexpectedly declined in the Chicago area, according to the latest MNI Chicago Business Barometer survey. The Barometer, a survey of purchasing and supply management professionals in the Chicago area, lost 6.1 points, falling to 52.6 in April and to its lowest level since January 2017. “This was a disappointing start to the second […]