Service centers and distributors contend that weak demand is to blame for the flattening of domestic steel spot prices, as reflected in Nucor Steel’s weekly Consumer Spot Price (CSP) notice. On Monday, the Charlotte, North Carolina-headquartered steel producer left prices unchanged from the previous week. Nucor has maintained prices of plate produced in Brandenburg since March 28.
May marks the third consecutive month US manufacturing activity declined, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
US Department of Commerce (Commerce) review found no South Korean oil country tubular goods (OCTG) exporters or producers sold products below market value
The Chicago Business Barometer reports that decreases in new orders, order backlogs, and softer production pulled the index down by 4.1-points to 40.5, in May.
The US Department of Energy (DOE) adds metallurgical coal to the nation’s list of Critical Materials, following its designation by US Secretary of Energy, Chris Wright’s announcement on May 22.
Most of the surveyed US and Canadian metalforming manufacturers expect general economic activity to remain steady over the next three months.