US drill rigs running

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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 the US steel industry and to the US economy in general. The deal encourages [...]

2018-11-26T19:33:24+00:00A View|

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 conditions remains quite positive, primarily due to strong employment growth." Said Lynn Franco, Senior [...]

2018-11-05T19:49:50+00:00A View|

Leading Economic Index Increased in September

The Conference Board Leading Economic Index Increased in September  The Conference Board Leading Economic Index (LEI) for the US increased 0.5 percent in September following a 0.4 percent August increase and a 0.7 percent increase in July. The LEI improved further in September, suggesting the US business cycle remains on a strong growth trajectory heading into [...]

2018-10-30T10:42:29+00:00A View|

Increasing Raw Material Costs Driving SBQ Prices Up

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 [...]

2018-10-22T15:40:38+00:00A View|

Small Business Optimism Slipped in September

Small Business Optimism Slipped in September Small business optimism slipped 0.9 points in September but remains near an all-time high. Tighter labor markets are pushing compensation costs higher and many businesses are passing on those higher costs. Wells Fargo US Raw Steel Production Retreated Again Last Week US raw steel production retreated again last week, [...]

2018-10-22T14:03:21+00:00A View|

August PMI Increased

August PMI Increased 3.2 Percentage Points The August PMI increased 3.2 percentage points from the July reading of 58.1 percent to register 61.3 percent, according to the Institute for Supply Management (ISM) August 2018 Manufacturing ISM Report on Business. Economic activity in the manufacturing sector expanded in August and the overall economy grew for the 112th consecutive [...]

2018-09-10T14:15:02+00:00A View|

US Raw Steel Production Notched Another Gain

US Raw Steel Production Notched Another Gain US raw steel production notched another gain last week, rising 0.5% as mills operated at an ACUR of 79.5%. In the corresponding week last year mills operated at an ACUR of 75.8%. Thus far this year mills have produced prox 59,000,000 tons compared to the prox 57,000,000 tons [...]

2018-08-27T14:45:17+00:00A View|

Expansion Still Has Plenty of Fuel in the Tank

Expansion Still Has Plenty of Fuel in the Tank The expansion still has plenty of fuel in the tank, according to the Monthly Economic Outlook from the Wells Fargo Economics Group. The advance 2nd qtr GDP data not only showed the economy grew solidly in the 2nd qtr but also showed that income growth has [...]

2018-08-13T18:41:37+00:00A View|