Category: Economy

Activity in the US manufacturing sector contracted once again in November.

In its Beige Book report released on Nov. 29, the Federal Reserve noted slower economic activity since October's report.

Sector fundamentals for US steel companies remain solid overall, according to ratings agency Fitch’s 2024 outlook report.

New orders for manufactured durable goods fell in the US in October.

US housing starts crept higher for a second consecutive month in October. Starts were lower, however than the same month last year, according to the most recent data from the US Census Bureau.

Increasing mortgage rates have caused builders to lose confidence in the market, according to the National Association of Home Builders (NAHB).

European Aluminium, an association representing the entire European aluminum value chain, announced in a press release that it supports the European Commission's proposed 12th package of sanctions against Russia.

The Dodge Momentum Index (DMI) increased in October thanks to stronger commercial activity, according to the latest Dodge Construction Network (DCN) data.

The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.

The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.

Construction spending edged higher in September, but a shortage of workers continues to constrain project completion rates, according to the Associated General Contractors of America (AGC).

Manufacturing activity in the US contracted once again during the month of October.

US housing starts increased in September despite high-interest rates, according to the latest estimates from the US Census Bureau.

The Dodge Momentum Index (DMI) edged up in September, driven by a slight increase in planning despite tighter lending standards, according to the latest Dodge Construction Network (DCN) data.

US manufacturing activity improved in September, nearing a recovery, but remained in contraction territory, according to the Institute for Supply Management (ISM).

Ford of Canada union workers represented by Unifor ratified a new, three-year labor agreement on Sunday.

August’s Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a moderate decrease.

The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.

The Dodge Momentum Index (DMI) moved lower in August, driven by a slowdown in planning from tighter lending standards, according to the latest data from the Dodge Construction Network (DCN).

Activity in the US manufacturing sector continues to slow, according to the latest monthly report on business from the Institute for Supply Management (ISM).

The Chicago Business Barometer edged up in August. This is the third consecutive monthly increase according to the latest indicators from Market News International (MNI) and the Institute for Supply Management (ISM).

SMU's Current and Future Steel Buyers Sentiment Indices both edged down this week, based on our most recent survey data.

Construction jobs may have increased year over year in July, but many positions remain unfilled.

Although some construction companies have a backlog, many jobs are getting put on hold, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council.

United Auto Workers (UAW) at battery cell maker Ultium Cells in Lordstown, Ohio, ratified an interim labor agreement over the weekend.

In a Steel Summit fireside chat, Karla Lewis, president and CEO of service center group Reliance Steel & Aluminum, sat down with SMU managing editor Michael Cowden to talk about current demand trends and where she’s leading her company.

After four months of increases, orders for durable goods in the US dropped in July.

Will there be a recession in 2023? Steel Summit keynote speaker Gene Marks weighed in on what he thinks about the possibility of a recession.

July was a stable month for business at architectural firms, according to the month's Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek .

Reshoring or nearshoring in manufacturing is real and happening now. And that trend is driving steel consumption, executives from steelmaker Ternium and service center group Reliance Steel & Aluminum said at SMU’s Steel Summit this week in Atlanta.