Forty-five states and the District of Columbia added construction jobs between September 2017 and September 2018, while 29 states and D.C. added construction jobs between August and September, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials noted that the continued job gains were a […]
Forty-two states and the District of Columbia added construction jobs between November 2017 and November 2018, while 23 states added construction jobs between October and November, according to an analysis by the Associated General Contractors of America of Labor Department data released Dec. 21. Association officials said extremely low unemployment rates in most of the […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: Three items of interest for today, which will be expanded upon as events warrant: WTO Disputes on Section 232 Tariffs—At least two WTO members (the EU and Norway) requested formation of a dispute settlement panel […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: As we approach the 2018 mid-term elections in a bit more than two weeks, I checked on the available data on voter attitudes toward the tariffs and trade policy. There is a lot of information […]
With the market sending mixed signals, distributors of HVAC products are keeping inventories lean as they wait to see if the price increase just announced by the steel mills gains any traction. “You can make a case for prices to go either way,” said one member of the Heating, Air-conditioning and Refrigeration Distributors International (HARDI) […]
United Steelworkers at U.S. Steel have reached a tentative agreement on a four-year labor contract with the mill, avoiding a potential strike. USW officials said the contract will allow workers and management to move forward in a way “that allows us to share in the company’s success.” “The company came to the bargaining table this […]
How long will the Section 232 tariffs on steel and aluminum imports remain in place? There is no way to know for sure. But supporters, including various trade and government officials, make a strong case that the tariffs are likely to remain in force for some time to come. President Trump announced the 25 percent […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: A question came up this week about production and changing tariff codes for products to avoid or minimize tariffs. Understanding options depends on the issue of how tariff classifications are changed through processing. And if […]
The cost of many products used in construction climbed 7.4 percent over the past year due to double-digit increases in commonly used construction materials, according to an analysis by the Associated General Contractors of America of new Labor Department data. Association officials noted that the cost increases come as many construction firms are already grappling […]
Nucor’s Sheet Mill Group announced a $40 price hike this morning. In an Oct. 10 letter to customers, Nucor said that base prices on hot rolled, cold rolled and galvanized steel products would all increase by $40 per ton, effective immediately. The steel mills have been largely silent on price changes for the past few […]
We had a bit of a split regarding service center spot prices in the analysis we did of the flat rolled steel markets last week. Manufacturing companies overwhelmingly reported their steel service center suppliers as dropping flat rolled steel spot prices compared to what they were seeing just a couple of weeks ago. On the […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: According to Robert Lighthizer, the U.S. Trade Representative, “we are sort of out of time” to negotiate including Canada in a revised NAFTA (the North American Free Trade Agreement). There are a few sticking points […]
Construction employment increased in 287 out of 358 metro areas (80 percent) between August 2017 and August 2018, declined in 35 (10 percent) and was unchanged in 36, according to a new analysis of federal employment data by the Associated General Contractors of America. “The increases in construction employment have been showing up in more […]
Steel Market Update will conduct one of our popular Steel 101: Introduction to Steel Making & Market Fundamentals workshops in Toledo, Ohio, on Dec. 11-12. We are working with North Star BlueScope, which will provide attendees with a tour of their electric arc furnace, caster and hot strip mill (all of the fun stuff). The […]
Forty-five states and the District of Columbia added construction jobs between August 2017 and August 2018, while 33 states added construction jobs between July and August, according to an analysis by the Associated General Contractors of America of data from the Labor Department. “Only three states experienced a decline in construction employment over the past […]
Construction employment increased by 23,000 jobs in September and by 315,000 jobs over the past year, reaching a 10-year high, while the industry’s unemployment rate decreased more than half a percentage point to 4.1 percent from a year earlier, according to an analysis of new government data by the Associated General Contractors of America. Even […]
Steel demand appears to be softening. Last week’s Steel Market Update’s Flat Rolled Market Trends questionnaire shows that far more buyers see declining than improving demand. While two out of three respondents report that demand is remaining steady, a significant and growing percentage (27 percent) say demand is declining. Only 7 percent report improving steel […]
The SMU Steel Buyers Sentiment Index has been treading water, albeit at optimistic levels, for the past six months. However, the attitudes of buyers and sellers about conditions in the steel market might be described as anywhere from cautious to tepid, judging by the comments provided in Steel Market Update’s latest Steel Buyers Sentiment Index […]
The United States’ Section 232 steel tariffs are adding to the government coffers as the increase in calculated duties on steel rose by 4,300 percent in second-quarter 2018. Earlier this week, Steel Market Update was asked if we knew how much revenue has been coming from the Section 232 tariffs on steel. We were intrigued […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: A rather eventful few days on the tariff and legal fronts: Final list of $200 billion in trade value of imports from China: The USTR announced the final list (“list 3”) of $200 billion in […]
Distributors of products for the HVAC sector are keeping a tight rein on inventories as pricing for galvanized steel continues to weaken. The wholesalers are seeing pressure from customers postponing orders in anticipation of better prices down the road. “It appears customers are living hand to mouth, waiting to place any large orders until they […]
Major leading economic indicators are all telling the same story—that U.S. economic growth is slowing, with little effect likely from the Trump administration tax cut, reported economist Alan Beaulieu of ITR Economics in his remarks Aug. 29 at the Steel Market Update steel summit in Atlanta. While an average GDP growth of 2.6 percent in […]
Steel Market Update steel training workshops continue to be very popular. We are finding many companies sending their new people to our flagship Steel 101 workshop. This workshop is excellent for those new to the industry; however, it is not just for new employees. It is an excellent way to expand the knowledge base of […]
SMU President & CEO John Packard will be the featured speaker at the AWMI Industry Dinner at the Carnegie Hall at Newport in Newport, Ky., on Oct. 18. The event is open to the public. The mission of the Association of Women in the Metal Industries (AWMI) is to educate, network and mentor those in […]
Construction employment is at a 10-year high and industry unemployment is at an all-time low, according to a new analysis of government data by the Associated General Contractors of America. The industry added 23,000 jobs in August and 297,000 jobs over the past year. Construction employment in August totaled 7,259,000, the highest level since May […]
Construction spending increased 0.1 percent from June to July and 5.2 percent for seven months of 2018 combined, with year-to-date growth for most major public and private categories, according to an analysis of new government data by the Associated General Contractors of America. Association officials said sustained growth will depend in part on contractors’ ability […]
What is in the nation’s best interest when it comes to international trade? Are the Trump administration trade policies the best approach? Speaking at the Steel Market Update Steel Summit Conference in Atlanta on Aug. 27, a spokesperson for the domestic steel industry and a Washington trade attorney offered sharply contrasting views. The Steel Manufacturers […]
Cleveland Cliffs has filed a lawsuit over mineral rights in Nashwauk, Minnesota. The iron ore company has filed suit against the Minnesota Department of Natural Resources, MDNR Commissioner Tom Landwehr and Mesabi Metallics, to prohibit Mesabi Metallics from mining iron ore on properties owned or controlled by Cleveland Cliffs. Cliffs purchased surface and mineral rights […]
The United Steelworkers’ negotiating committee for U.S. Steel employees will be returning home to present informational meetings to members and seek a strike authorization vote. U.S. Steel’s demand for a six-year contract with deep concessions and minimal wage increases has been rejected by the USW bargaining committee. The offered bonus and wage increase in the […]
Our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop will be held in Toledo, Ohio on December 11 & 12, 2018. We will be touring the North Star BlueScope steel mill. The NSB mill produces steel from scrap, pig iron and other iron units in their EAF (electric arc furnace). SMU would […]