Tag: Appliances

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

US consumer confidence pulled back in August, declining for the first time in four months. The result came in after the index jumped to its highest level in nearly two years the month prior, consumers’ assessment of current business and labor market conditions deteriorated, The Conference Board reported.

US consumer confidence rebounded in June after having fallen consecutively since April. The result jumped to its highest level since January 2022 and came as fewer households are expecting a recession, The Conference Board reported. The headline Consumer Confidence Index rose 7.2 points to 109.7 in June from 102.5 one month ago. And while both […]

We are counting down the days until SMU’s Steel Summit Conference on Monday-Wednesday, Aug. 21-23, in Atlanta. It’s only a little over two months away. Approximately 755 people have already registered. Our discounted room blocks are almost gone. Register here. The event will again be held at the Georgia International Convention Center, a massive conference center in close […]

Overall economic activity saw little change in April and early May, while manufacturing activity was flat to up in most Federal Reserve Districts, and supply chain issues continued to improve, the Federal Reserve said in its latest Beige Book report. The Beige Book is a compilation of information on current economic conditions, gathered by each district […]

Despite economic headwinds on the horizon, we are probably in store for a “shallow recession” rather than a prolonged one, according to Josh Spoores, CRU’s principal analyst – steel. Spoores sat down with SMU managing editor Michael Cowden on an April 5 Community Chat where they spoke about the outlook for the steel industry for the […]

US consumer confidence slipped for the second straight month in February, according to the The Conference Board. The Consumer Confidence Index fell to 102.9 in February vs. a downwardly revised figure of 106.0 in January. “Consumer confidence declined again in February,” Ataman Ozyildirim, senior director of economics at The Conference Board, said in a statement. “The decrease […]

Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email info@steelmarketupdate.com. US consumer confidence declined unexpectedly in January after an upwardly revised December measure. The result came as households continued to worry about the economy’s prospects over the next […]

US manufacturing activity slipped in December, for the second consecutive month, according to the Institute for Supply Management (ISM). The ISM’s December manufacturing PMI remains below the neutral 50.0 mark — the level typically dividing expansion from contraction. On the heels of a 29-month period of growth, this is now the lowest level since May […]

US consumer confidence provided a bit of a boost and a hopeful sign for the economy as it bounced back in December. Following back-to-back monthly declines, the headline index in December rose sharply as American consumers’ confidence in the economy grew as high inflation continued to ease, The Conference Board reported. The headline Consumer Confidence […]

US consumer confidence slipped again in November, declining for the second straight month amid ongoing high inflation and rising interest rates. Despite the weaker outlook, household spending has had a generally healthy start to winter holiday shopping, The Conference Board reported. The headline Consumer Confidence Index fell by two points in November to a reading […]

As steel volumes continue to grow, the Port of Hamilton, Ontario, is receiving funding from the Canadian government to increase its steel handling productivity. Canada’s National Trade Corridors Fund is providing CAD $4.9 million (US $3.65 million) in funding to relieve supply chain congestion at the port. The waterway is a critical piece of infrastructure […]

US manufacturing activity grew at its slowest pace since May 2020, nearly falling in October to the neutral 50.0 mark — the level that typically divides expansion from contraction, according to the Institute for Supply Management (ISM). The latest update was slightly ahead of consensus forecasts of a neutral reading amid rising borrowing costs and […]

US consumer confidence slipped in October after two straight monthly increases amid rising concerns about inflation and a possible recession next year. Despite the decline, households remain keen to purchase big-ticket items like motor vehicles and appliances, The Conference Board reported. Though down, October’s results still pointed to decent consumer buying, as more consumers planned […]

News that the Biden Administration is considering a total ban on Russian aluminum imports lifted the market Tuesday afternoon, Oct. 11. The LME aluminum three-month price increased sharply to a high of $2,400 per ton before some of the gains were reversed by the close. The price saw some volatile shifts during the week but […]

US consumer confidence expanded again in September, extending a rebound in sentiment that began with a strong jump in August and reaching its highest level since April, The Conference Board reported. Results in September were better than expected, measuring 108 points and building on the 103.6 reading in August. The repeated gain and steady month-on-month […]

Aluminum May Be Approaching the End of Its Long Destocking Cycle Last week, I described our premise about demand versus real consumption. We talked about the market’s natural tendency to destock when prices take a beating as they have during most of 2022. The latest Index of Orders from the Aluminum Association offers some early […]

US consumer confidence grew in August, rebounding more than expected after shrinking for three straight months, The Conference Board reported. Results in August were better than expected, measuring 103.2 points and ahead of the 97.7 estimates. The nice month-on-month (MoM) bump in consumer confidence runs parallel to the lower oil prices and is congruent with […]

We’ll kick off our Steel Summit conference in Atlanta in just a few short days. I’m looking forward to learning from executives across the supply chain – from steel mills and service centers to automakers and trucking companies. I’m also looking forward to getting the mood of the room when we do our annual poll […]

Our events team has informed me that registrations for the 2022 SMU Steel Summit Conference have already eclipsed last year, and we are well on our way to having record attendance. We are passing through 1,100 registered executives, and we still have slightly more than two weeks to go. A couple of quick notes before […]

US consumer confidence fell again in July, declining for the third consecutive month, The Conference Board reported. Americans grew even more pessimistic about the US economy over the past 30 days, with the latest survey showing declines in consumer attitudes, intentions and expectations in July. The drop came on the heels of an even larger downward […]

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects including steel prices, supply and demand, and new mill capacity. We are sharing some of the comments we received in each buyer’s own words rather than summarizing them in ours. Want to have your voice heard? Contact Brett@SteelMarketUpdate.com to […]

US consumer confidence fell to a 16-month low in June, falling for the second straight month. The consumer expectation index, meanwhile, hit its lowest mark in nearly a decade. An onslaught of grim economic news continues to erode Americans’ view of their present and future prospects, The Conference Board reported. Rising inflation, a key driver of […]

New orders for US manufactured durable goods rose more than expected in May, suggesting business investment remains resilient even in the face of deteriorating business and consumer sentiment as well as heightened fears of a recession. Last month’s bookings for durable goods rose 0.7% following a revised 0.4% decline a month earlier, according to the […]

By CRU Senior China Economist Henry Hao, from CRU’s Global Economic Outlook and China Macro Monthly In May, overall economic activity in China has improved marginally as the relaxation of Covid-19 restrictions led to the resumption of production in late May. Export and infrastructure investment have regained momentum. However, prospects for construction remain weak. While the contraction […]

Despite inflation, rising interest rates, and faltering equities markets, the outlook is not all doom and gloom when it comes to the metals markets, says Rick Marabito, CEO of service center group Olympic Steel. In fact, the outlook for demand and consolidation is actually quite good, he told attendees of this week’s Steel Market Update […]

US consumer confidence edged lower in May as Americans’ view of their present and future prospects dimmed in the midst of persistent inflation, The Conference Board reported. Confidence could stumble further as stubborn inflation may be around for a bit. Inflation soared over the past year at its fastest pace in more than 40 years. […]

Strict and strictly enforced trade laws are key to backing the steel industry’s investments in decarbonization. That was the takeaway from a press conference on Tuesday, May 17, at the AISTech 2022 conference in Pittsburgh. Executives from Steel Dynamics Inc. (SDI), Commercial Metals Co. (CMC), the Steel Manufacturers Association (SMA), and the American Iron and […]

International trade has become increasingly important to the US economy and national security over the last seven decades. But in recent years, we have lost our confidence in it. Donald Trump was the first post-World War II President to try to reduce the volume of international trade, principally by imposing tariff barriers on steel, aluminum, […]

By Greg Wittbecker, Advisor, CRU Group It is natural to speculate about how well demand for aluminum can hold up given the effects of dramatically higher prices, both on aluminum itself and the broader economy. Conversations with many of our clients’ center on concerns about demand destruction. The logic is simple: With gasoline, food and interest […]