Economy
December 8, 2016
Written by John Packard
Every year Keith Gunter of McElroy Metal produces a Christmas poem dedicated to recent steel events and wishes for the New Year. Take a moment to enjoy this year’s spin on the old classic, Twas the Night Before Christmas:
T’was almost Christmas,
So time to reflect on the year,
Cost has had its ups and downs,
But has now reached a new gear.
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To kick off the official sessions of the 2023 Steel Summit, Dr. Anirban Basu, chairman and CEO of the Sage Policy Group, focused on the broader context in which steel prices are set, outlining major factors currently shaping economic outcomes in our country.
Mexico has decided to implement import tariffs on a number of products, among them, steel.
As mortgage rates continue to rise and housing demand slows, builder confidence is waning. A drop in July housing starts was the first in seven months.
Economic activity in the US manufacturing sector contracted for the ninth month in a row in July, according to the latest report on business from the Institute for Supply Management (ISM).