Tag: Manufacturing

The August Business Conditions Report issued by the Precision Metalforming Association (PMA) found that North American sentiment improved markedly in August.

“I think this will be a year of economic growth,” the economist said in his Sylvester Stallone-themed keynote discussion at the SMU Steel Summit this week in Atlanta. He estimates real GDP growth of about 2.0-2.3%.

Barry Zekelman supports durable, predictable steel trade protection—and the Section 232 tariffs in particular—as a foundation for reinvestment in domestic manufacturing capacity.

Ryerson's CEO says US reshoring remains in its early stages, despite rising investment in manufacturing capacity.

Foreign steel remains sharply competitive, inventory levels are mostly steady, and demand is strengthening, according to SMU's Aug. 7 market survey. But buyers are more selective than earlier in the year, even as pricing momentum continues to push spot levels higher.

Ford Motor Co. announced it will reshore production of Lincoln-brand vehicles as part of its commitment to American manufacturing. The Dearborn, Mich.-based automaker said it will phase out the importation of vehicles from China for the US market and increase domestic Lincoln production starting in 2030.

The investment in St. Joe, Ind., will add capabilities to produce steel grating products. The Charlotte, N.C.-based steel company expects the investment to create 20 new full-time jobs. Those are in addition to the over 300 workers currently employed there.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events. We are sharing a selection of the comments we received below, in each buyer’s own words.

The announcements affect two established US commercial vehicle production sites.

Recent conversations with some hot-rolled coil spot market participants revealed spiking stress levels amidst a tightening supply of the steel sheet product.

The US manufacturing sector picked up steam in July, with the Institute for Supply Management's Manufacturing PMI rising 2.3 points in July.

PMA found the metalforming sector remains broadly stable but is becoming more cautious in its July Business Conditions Report.

Reliance Inc said that US government industrial policies contributed to its second-quarter financial success.

Despite persistent pricing uncertainty, the Fed's latest Beige Book reported that the US economy continued to expand at a modest pace with labor market conditions improving.

SMU’s July 10 Flat-Rolled Steel Survey results paint a picture of a steel market being squeezed from every direction. Tariffs are holding prices up and giving mills a clear advantage, while manufacturers and traders say the policy is pushing their costs higher.

Toyota Motor North America plans to invest $3.6 billion to expand its San Antonio manufacturing campus.

The Canadian government has selected a German firm to build submarines, passing on a contract from a South Korean company linked with Algoma Steel.

North American steel buyers are navigating a market where demand is firming, but import activity remains cautious. Buyers reported mixed import activity in SMU’s June 26 flat-rolled steel buyers’ survey.

Some domestic plate market participants recently voiced concerns that current market conditions will impact fabrication and manufacturing, which rely on steady product supply.   

Manufacturing activity in New York state increased modestly in June, easing after posting strong growth the month prior, according to the Empire State Manufacturing Survey.

SMU’s June 12 Flat-Rolled Steel Buyers’ Survey shows a divided steel community on the effects of President Trump’s tariff policies, emerging but uneven signs of reshoring, and near-universal cost pressures tied to the Iran conflict.

Sheet prices in the USA continued to move higher over the past month as supply remained tight in the country

Over the next three years, U.S. Steel’s investment to upgrade its hot strip mill at Mon Valley is projected to result in over 6,000 jobs and $58 million in tax revenue, according to an economic impact study conducted by the Parker Strategy Group.

Manufacturing picked up in nine of the twelve Federal Reserve districts in May. It was one of the strongest sectors in the Fed’s June 3 Beige Book report.

Members of the United Autoworkers (UAW) Local 2093 went on strike at the Dauch Corp.'s (formerly named American Axle and Manufacturing) Three Rivers, Mich., facility on Monday. 

The May Business Conditions Report issued by the Precision Metalforming Association (PMA) found metalforming manufacturers anticipate stable market conditions for the next three months.  

Tenaris, alongside Ontario’s provincial and Canada’s federal governments’ pledge $30Canadian $306 million (USD$221.6 million) to modernize and expand Tenaris’ Ottawa-based industrial center.

Before the second Trump administration, many automakers were banking on an electrified future, supported by federal and state tax incentives for consumers. But many of those tax breaks are gone.

Most manufacturing indicators strengthened through March and showed strong positive annual growth.

US manufacturing activity grew for the fourth straight month in April, according to the latest report from the Institute for Supply Management (ISM). April marked the 18th month of overall economic expansion.