Business Grew Solidly in March 2021 Business grew solidly in March, according to The Federal Reserve Bank of New York Empire State Manufacturing Survey of firms responding to the March survey. The headline general business conditions index climbed 5 points, its highest level since last summer. New orders increased modestly; shipments were up substantially. New [...]
Industrial Production Surged in August Industrial production surged 0.6% in August, with widespread gains. The 0.5% rise in manufacturing alleviates concerns about the factory sector's slowdown. Wells Fargo Existing Home Sales Beat Expectations Existing home sales beat expectations, rising in August. Wells Fargo Federal Reserve Cut Interest Rates for the Second Time On Wednesday the [...]
US SBQ Spot Market Prices Slip US SBQ spot market prices slip for most grades of special bar quality (SBQ) in AMM’s latest assessment on Friday 12/14 driven by late year discounting although overall demand remains strong. Sources indicated that lead times stretch from late February to early March 2019. The price for 1.000” Round [...]
Increasing Raw Material Costs Driving SBQ Prices Up Increasing raw material costs driving SBQ prices up by $1 per hundredweight ($20/per ton) across all grades with market participants reporting lead times for hot rolled bar that extend into early February 2019. AMM's price assessment for 1 inch round 1000 series hot rolled bar was at [...]
US Raw Steel Production Retreated Last Week US raw steel production retreated 0.7% last week as mills operated at an ACUR of 74.2%. In the corresponding week last year, mills operated at an ACUR of 74.9%. Thus far this year mills have produced prox 42,000,000 tons compared to the prox 41,344,000 tons produced in the [...]
May 2018 Empire State Manufacturing Survey Reports Business Activity Grew Strongly The Federal Reserve Bank of New York released its May 2018 Empire State Manufacturing Survey and reports business activity grew strongly in New York State, according to firms responding to the survey. The headline general business conditions index climbed four points. The new orders [...]
Expect Solid Growth in US Economy into the New Year The Conference Board Leading Economic Index (LEI) for the US increased 1.2 percent in October following increases in August and September (.01 and .04 respectively). The US LEI increased sharply in October as the impact of the hurricanes dissipated,” said Ataman Ozyildirim, Director of Business [...]
Highest Shipments Index Since December 2010 Reported by Federal Reserve Bank of Richmond Fifth District Survey of Manufacturing Activity for September Supported by a sizeable increase in the index for shipments-which, at a reading of 22, is the highest shipments index since December 2010, the composite manufacturing index rose from 14 to 19, according to [...]
June Business Activity Rebounded Strongly in New York State Business activity rebounded strongly in New York State according to firms responding to the Federal Reserve Bank of New York Empire State Manufacturing Index Survey for June. The headline general business conditions shot up to its highest level in more than two years. The New Orders index [...]
August 2016 Manufacturing Business Outlook Survey Suggests "Positive But Tenuous" Growth The Federal Reserve Bank of Philadelphia released its August 2016 Manufacturing Business Outlook Survey and reports firms responding to the survey suggest “positive but tenuous” growth. The diffusion index for current general activity moved from a negative reading to a marginally positive reading while the [...]
