Steel Dynamics Announced Base Price Increase Steel Dynamics (SDI) announced a base price increase for Special Bar Quality (SBQ) products of $50/per ton ($2.50/cwt) effective with September 1 shipments. I'm sure the other hot mills and drawing mills will follow with their own announcements soon enough. Chicago Fed National Activity Index (CFNAI) Rebounded in June [...]
Retail Sales Rose in June Retail sales rose 0.5 percent in June and May's gain was revised up from 0.8 to a whopping 1.3 percent. Monday's report of another increase in business inventories in May is in-line with our expectation for Q2 GDP to get a boost of nearly ½ percentage point from inventories." Wells [...]
GDP Growth Appears to Have Roared Back GDP growth appears to have roared back after a soft first quarter. A sharp narrowing in the trade deficit and a pickup in consumer spending have propelled our estimate of Q2-GDP to 4.7 percent." Wells Fargo U.S. Drill Rigs Running Rose Last Week The number of drill rigs [...]
The U.S. Economy Created 213,000 Jobs in June The U.S. economy created 213,000 jobs in June. The unemployment rate ticked up to 4.0% from 3.8%, an 18-year low, but steady hiring and an increased number of job seekers suggest the strong labor market drew Americans in from the sidelines. US Labor Dept. Institute for Supply Management [...]
