Over the course of this week, Steel Market Update has been canvassing active participants in the flat rolled steel markets as we try to capture any changes in market trends. The more than 100 respondents we had this week provided us a snapshot on how steel mills are handling price negotiations. As a group, respondents […]
Total construction expenditures are expanding slowly, but the contraction of infrastructure expenditures is accelerating, according to June data for construction put in place (CPIP) released by the U.S. Department of Commerce on Aug. 1. Total construction still shows positive growth, but slowed to 1.3 percent year/year in the latest three months of data. Privately funded […]
Construction spending is suffering from a decrease in public investment said Ken Simonson, chief economist at the Associated General Contractors of America. “Construction spending is still increasing overall but growth has become much more uneven across categories in recent months,” said Simonson. “There has been a steep decline in public investment in nearly all types […]
As a monthly average, prices on all flat rolled steel products recovered in July following a dip in June. The month of July ended with SMU’s Price Momentum Indicator continuing to point higher as the market waits to see if and when the Trump administration will act on Section 232 trade measures that could further […]
Manufacturing activity in the U.S. expanded in July, though the PMI declined 1.5 percentage points to a reading of 56.3, reports the Institute for Supply Management in its latest Manufacturing ISM Report On Business. The PMI has remained above the neutral 50.0 point for 11 consecutive months indicating growth in manufacturing. Although still at robust […]
The JP Morgan Global Manufacturing PMI registered 52.7 in July indicating continued manufacturing growth across the globe. During the last four months, manufacturing expansion has remained steady at 52.6 in June and May, and 52.7 in April. Growth in June was again led by European nations with eight of the ten best-performing countries in Europe. […]
On Monday, August 28, the steel event of the year will kick off in Atlanta. With less than four weeks to go and 575 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel […]
On Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With four weeks to go and 560 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the 7th Steel Market Update (SMU) Steel […]
In the Key Indicators data released in July, both the present situation and trends have recovered from what now appears to have been a temporary downward blip in June. Trends lead the present situation by about four months. An explanation of the Key Indicators concept is given at the end of this piece for those […]
Steel Market Update (SMU) spoke with steel trading companies and steel mills late last week in order to gauge the “mood” of the steel suppliers. We found a mostly composed group who are looking at business for the long term (although their customers may be more fickle depending on the news of the day). A […]
There are less than four weeks to go before THE major steel event of the year will kick off in Atlanta. Steel Market Update is hosting our SMU Steel Summit Conference, the fastest growing steel conference in North America. Why is our conference so successful? Listen to some of last year’s attendees (click to play): […]
There are but four very short weeks to go before THE major steel event of the year will kick off in Atlanta. Steel Market Update (SMU) is hosting our 7th SMU Steel Summit Conference, the fastest growing steel conference in North America. Why is our conference so successful? Listen to some of last year’s attendees […]
This report summarizes seven data sources that describe the state of manufacturing in the U.S. We have reported on most of these separately in our Steel Market Update publications, therefore we’ll be brief in this summary. We don’t expect these data sources to all point in the same direction. Our intention in summarizing them in […]
Orders for durable goods jumped 6.5 percent in June for the largest increase since July 2014, said the Commerce Department on Thursday. Most of the gain, however, was due to a 131.2 percent surge in orders for commercial aircraft. Excluding aircraft and transportation, orders rose a more modest 0.2 percent. Core capital goods, which exclude […]
We asked trade attorney Lewis Leibowitz what impact there would be on the Section 232 investigation and timing for decisions based on the comments made by President Trump of a delay in the process. Here is what Leibowitz told us earlier today: On Tuesday, July 25, President Trump revealed that he will indefinitely postpone a […]
U.S. Steel turned around a series of losses to achieve net earnings of $261 million in second-quarter 2017. The company is focused on revitalizing operations and said it will invest an estimated $1.3 billion in its flat rolled assets in 2017. By 2020, U.S. Steel expects the revitalization program to increase hot rolled band production […]
Metalforming companies in the U.S. and Canada are expecting steady business conditions during the next three months, but expressed concerns about potential Section 232 tariffs. The PMA Business Conditions Report, prepared by the Precision Metalforming Association, showed most members are not anticipating any changes in general economic activity or incoming orders in the coming months. […]
Kloeckner Metals Corp., Roswell, Ga., reported a solid second quarter due largely to more favorable steel pricing in the U.S. Asked about the status of the Section 232 investigation during the second-quarter earnings call, Kloeckner CEO Bill Partalis said it’s unclear if or when President Trump will act on possible new tariffs on steel imports. […]
Even conceding that a strong U.S. steel industry is vital to the nation’s security, it’s unclear whether America’s steelmakers really need an assist from the government in the form of new tariffs or quotas under Section 232. “Is the industry deserving of any kind of help? I believe you can make a good case that […]
John Packard and Ray Culley of Steel Market Update (SMU) spoke with Michael Smerconish of CNN and Sirus XM Radio on Monday afternoon as we prepare for one of the most dynamic finishes to any steel-related conference program. The title of his presentation is, “How did we get here (politically) and what will it take […]
Last week, Steel Market Update (SMU) completed our mid-July flat rolled market trends analysis. We invited 650 steel executives to participate. Of those responding, 48 percent were service centers, 41 percent were manufacturing companies, and 8 percent were trading companies, with steel mills and toll processors accounting for 4 percent each. One of the questions […]
The steel market is waiting anxiously to see if the Trump administration places additional tariffs or quotas on steel imports. Opponents of the proposed Section 232 trade action say it will be bad for the U.S. economy, in particular U.S. manufacturers that will have to pay more for raw materials, making them less competitive versus […]
Registrations for our 2017 SMU Steel Summit Conference continue to roll in. With five weeks to go before the conference begins, registrations topped 525 steel and manufacturing executives this weekend. We have more than 240 companies registered to attend and we anticipate we will add more over the final 37 days. The conference, located at […]
Registrations for our 2017 SMU Steel Summit Conference continue to roll in. Five weeks from today our 7th conference will begin, registrations topped 530 steel and manufacturing executives as of this morning (Monday, July 24). We have more than 240 companies registered to attend and we anticipate we will add more over the final 34 […]
Twice per month, Steel Market Update (SMU) conducts a detailed analysis of the flat rolled steel market. We invite 650 individuals representing approximately 625 different companies to participate by taking an online questionnaire. The questions cover a wide variety of topics that are germane to their unique industry segment. The two main groups asked to […]
Steel Dynamics, Inc., is excited about the second half and is expecting growth in all sectors through 2018. CEO Mark Millett says the flat rolled arena remains very strong despite a slight turning of the automotive market. Infrastructure is continuing to grow, as evidenced by cranes and road work funded by states, if not federal […]
Flat rolled lead times remain flat compared to what we reported for early July, as well as one month ago. Twice per month, Steel Market Update conducts an analysis of the flat rolled sheet and plate markets. This is done through the use of a comprehensive questionnaire focused on manufacturing companies and service centers, which […]
China’s economic performance through the second quarter continued to be impressive. Chinese growth of steel production lagged the rest of the world in the first months of 2017, but the June output could indicate an unwelcome change. Once each quarter, we publish the official statistics for Chinese GDP, industrial production, consumer price inflation and fixed […]
We’re in for a good year ahead, says popular economist Alan Beaulieu of ITR Economics, who will be a keynote speaker during Steel Market Update’s 2017 Steel Summit Aug. 28-30 at the Georgia International Convention Center in Atlanta. Previewing his remarks, ITR forecasts another six months of accelerating economic expansion for the U.S., followed by […]
Like the rest of the steel market, wholesalers of galvanized steel and other products used in HVAC applications are stuck in an uncomfortable wait-and-see mode as the Section 232 drama plays out in Washington. In the monthly steel conference call hosted today by the Heating, Air-conditioning, and Refrigeration Distributors International, HARDI members reported anxiety over […]