Timken Steel Raised SBQ Prices
In a leading move, Timken Steel raised SBQ prices. The Canton, Ohio company raised its special bar quality (SBQ) product prices by $50-$150 per ton effective Wednesday March 28, 2018. This comes after SBQ mills in the USA slated base price increases effective with April 1 shipments. US producers raised SBQ prices three times in 2017.
Timken:
SBQ bar products up $50.00 per ton
SBQ quench and tempered bar up $90.00 per ton
CFNAI Rose
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.88 in February from +0.02 in January. All four broad categories of indicators that make up the index rose in February. The index’s three month moving average (CFNAI-MA3), increased to +0.37 in February from +0.16 in January.
What is the National Activity Index?
The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories.
Why are there three index values?
Each month, we provide a monthly index (the CFNAI), its three-month moving average, and a diffusion index. Month-to-month movements can be volatile, so the monthly index’s three-month moving average, the CFNAI-MA3, provides a more consistent picture of national economic growth. The CFNAI Diffusion Index instead captures the degree to which a change in the monthly index is spread out among its 85 indicators, averaged over a three-month period.
What do the numbers mean?
A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.
Periods of economic expansion have historically been associated with values of the CFNAI-MA3 above -0.70 and the CFNAI Diffusion Index above -0.35. Conversely, periods of economic contraction have historically been associated with values of the CFNAI-MA3 below -0.70 and the CFNAI Diffusion Index below -0.35.
An increasing likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +0.70 more than two years into an economic expansion.
Similarly, a substantial likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +1.00 more than two years into an economic expansion.
Texas Manufacturing Outlook Survey for March 2018 Reports Texas Factory Activity Continued to Expand
The Federal Reserve Bank of Dallas released its Texas Manufacturing Outlook Survey for March 2018 and reports Texas factory activity continued to expand but at a markedly slower pace than in February, according to business executives responding to the survey. Most of the indexes of manufacturing activity remained positive but posted double digit declines in the month.
Perceptions of broader business conditions remained positive on net but the share of firms reporting an improvement declined from last month.
USA Drill Rigs Running Rose Last Week
The number of oil drill rigs running in the USA rose by 5 last week (995), led by Texas, up by 7. Meanwhile Canadian drilling tumbled by 58 rigs (161) compared with the previous week.
Fifth District Survey of Manufacturing Activity Reports Manufacturing Expanded but at a Slower Pace in March
The Federal Reserve Bank of Richmond released its Fifth District Survey of Manufacturing Activity and reports manufacturing expanded but at a slower pace in March. However, considering all variables, a larger share of firms predicted growth in the next six months than had in February.
Consumer Confidence Slipped in March
Consumer confidence slipped to 127.7 in March from February’s cycle high of 130, surprising the consensus which had expected a gain in March. Both the present situation and the expectations indices moved lower in March. Wells Fargo
GDP Increased at an Annual Rate of 2.9%
The third and final estimate of 3rd qtr GDP was released and reports GDP increased at an annual rate of 2.9% according to the Bureau of Economic Analysis (BEA).
US Raw Steel Production Dropped Last Week
US raw steel production dropped 1.3 percent last week as mills operated at an ACUR of 77.4%. In the corresponding week last year mills operated at an ACUR of 73.6%. Thus far this year mills have produced prox 20,816,000 tons compared to the prox 20,653,000 tons produced in the like period last year.
Tariffs
33 countries thus far have been exempted from the sec. 232 tariffs on steel and aluminum. As I said before, blanket tariffs on the worlds steel producers was a negotiating tool which has brought all these countries to the table to negotiate new trade agreements with the USA. You must give kudos to the president for that. FAIR trade, not FREE trade.
Spending Bill
I am still incensed about the spending bill the president signed last week. After Schumer tried to blackmail the GOP and the American people by shutting down the government in October (I think it was October), a move which failed miserably, why on earth would the GOP roll over for them? He should have vetoed the bill and let the Dems take blame for another government shutdown. It was a golden opportunity for a legislative victory…but he got beat by the swamp creatures.
This falls squarely on Trumps shoulders, he knows he made a mistake. Instead of getting what he promised the American people, he let the Dems get the money they wanted to buy more votes, create more dependents. He did get some funding for border security but nothing that will accomplish what is needed. Had he vetoed the bill he could have negotiated a much better deal.
March for Their Lives
The children marching for gun control, in my view, is instigated and organized by the leftists. We all want our children to have no fears when going about their school days. These, in reflection, are the best days of our lives and children should not be scarred for a lifetime by the radical actions of insane people. But it IS happening, and it is wrong.
Gun control, again, is not the answer. More in depth background checks, yes. More freedom and exchange of information between teachers, psychologists, psychiatrists, counselors etc. and law enforcement, absolutely. Armed guards at our schools? Can you imagine? I cannot, it is so far removed from what I lived. Metal detectors? Maybe, but that requires an enforcement officer to be present. Armed staff? By all means, anyone proficient and practiced in the use of a firearm should be encouraged to carry.
There should be no signs declaring a gun free zone. That is an invitation for a sick person. Knowing there may be armed staff is a definite deterrent.
The 2020 Census Debate
Why is it deemed unconstitutional to ask if you are an American citizen when filling out the 2020 census forms? Don’t you think we need to know how many actual citizens we have? How many are here illegally? After all, they are consuming taxpayer money for all kinds of benefits.
If the leftists get their way, the borders will be open to anyone and financial aid will be available to anyone to keep those losers in power. We cannot let that happen, it’s crazy and really shows how little love and respect they have for the USA.
Veterans Administration Turnover
President Trump shit canned Dr. David Shulkin as Veterans Affairs Secretary. Good riddance. Scott Pruitt with his private jets (also gone). Several weeks ago, when it was recently reported about Shulkin’s use of taxpayer money for vacations and other bullshit, I tweeted the president that this type of entitlement spending was reserved for the president alone.
Government employees are OUR employees and are NOT entitled to such wanton spending. Ben Carson spending $31,000.00 on a dining room set? Who do these people think they are? It takes some Americans a year to earn that much money. Drain the swamp…even the gators you appoint yourself.
HAPPY EASTER AND HAPPY PASSOVER TO ALL OUR FRIENDS AND ASSOCIATES
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform XX Entitlement Reform
Business Tax Reform XX Education Reform X
Healthcare Reform Veterans Administration Reform X
Rebuild our Military X Trade Reform X
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor XX Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS XX Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.
TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907
In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”
