Economy
March 16, 2021
CRU: Robust Manufacturing Helps Margins Stay High in March
Written by CRU Americas
By CRU Analyst Atul Kulkarni, from CRU’s Steel Sheet Products Monitor
The U.S. manufacturing PMI rose to a 38-year high during March as the Biden government’s $1.9 trillion stimulus package improved sentiment. U.S. vehicle production and durable goods new orders stayed strong during February. Although U.S. crude steel capacity utilization increased during March, sheet supply was lower due to storm disruption. Also, HRC imports fell by 22.5% m/m during the month.
