A View from the Top
Summit Steel President Ross Bushman offers a weekly summary of data and observations regarding the metals industry news, market conditions and their global and domestic impact.
Feel free to contact Ross with your thoughts or comments.
February 2019
February 2019 Manufacturing Business Outlook Survey Reports Negative Indicators
February 2019 Manufacturing Business Outlook Survey Reports Negative Indicators The Federal Reserve Bank of Philadelphia February 2019 Manufacturing Business Outlook Survey reports negative indicators for general activity, new orders and shipments but the indicator for employment remained positive. The index for [...]
Optimistic Future Conditions Suggested
Optimistic Future Conditions Suggested Fairly optimistic future conditions are suggested by indexes assessing the six-month outlook which improved noticeably, after slumping in January. The Federal Reserve Bank of New York Empire State Manufacturing Survey for February 2019 Reports Modest Growth The [...]
US Census Bureau Full Report for November 2018
US Census Bureau Full Report for November 2018 US Census Bureau Full Report for November 2018 on Manufacturers' Shipments, Inventories and Orders: New orders for manufactured durable goods, down two consecutive months, decreased 0.6 percent. Shipments of manufactured durable goods, down [...]
Best January for Stocks in 30 Years
Best January for Stocks in 30 Years The resilient US economy has fueled the best January for stocks in 30 years...banks and smaller companies that were among the market's laggards last quarter have helped stocks, a sign investors are favoring sectors [...]
January 2019
US Raw Steel Production 1,912,000 Tons Week of 1/19/2019
US Raw Steel Production 1,912,000 Tons Week of 1/19/2019 US raw steel production 1,912,000 tons the week of 1/19/2019 as mills operated at an ACUR of 80.7%. In the like period Las year, mills operated at an ACUR of 73.6%. US [...]
Visit Us at the SHOT Show in Las Vegas
Visit Us at the SHOT Show in Las Vegas Visit us at the SHOT Show where we have a booth at the SHOT Show Supplier Showcase Monday and Tuesday, the 21st and 22nd at the Sands Convention Center in Las Vegas, [...]
Small Business Optimism Drops Again
Small Business Optimism Drops Again in December Small business optimism drops again in December. According to the National Federation of Independent Business (NFIB) the Small Business Optimism index fell 0.4 point in December, marking its fourth consecutive drop. The bulk of [...]
US Employers Added 312,000 Jobs in December
US Employers Added 312,000 Jobs in December US employers added 312,000 jobs in December, the fastest pace since February and wages surged, suggesting the economy maintained strong momentum at the end of 2018 even as financial markets sank. WSJ The Chicago [...]
December 2018
US SBQ Spot Market Prices Slip
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 [...]
Chinese Tariff on US Auto Imports Now 15%
Chinese Tariff on US Auto Imports Now 15% Chinese tariff on US auto imports now 15%, down from 40% currently, after China agreed to lower it ... Big Win. US Drill Rigs Running Slipped Last Week The number of drill rigs [...]
Chicago Business Barometer Signaled Expansion 33 Consecutive Months
Chicago Business Barometer Signaled Expansion 33 Consecutive Months The MNI Chicago Business Barometer surged to an eleven month high in November, up 8 points from October. The months result, sitting above the neutral 50-mark, means the Barometer signaled expansion 33 consecutive [...]
November 2018
The USMCA Impact on US Economy
The USMCA Impact on US Economy As part of an investigation into the USMCA impact on US economy, representatives from both the American Iron & Steel Institute (AISI) and the Steel Manufacturers Association (SMA) said the proposed NAFTA replacement would provide benefits to [...]
Increasing Scrap Prices Affect SBQ Price Hikes
Increasing Scrap Prices Affect SBQ Price Hikes Prices for special bar quality (SBQ) steel products in the US have risen again, moving up by $0.50 per hundredweight ($10 per short ton) due to increasing scrap prices while market participants eye an [...]
Oil Prices Entered Bear Market Territory
Oil Prices Entered Bear Market Territory In Thursday's trading, oil prices entered bear market territory, closing down at $60.67/barrel amid worries over rising US crude inventories and slowing global demand. West Texas Intermediate crude is now down 21% from its Oct. [...]
Consumer Confidence Index Increased Again
Consumer Confidence Index Increased Again The Conference Board Consumer Confidence Index increased again in October. The Present Situation and the Expectations Index's both increased as well. These are at levels last seen in the fall of 2000. Consumers' assessment of present-day [...]