Economy
July 10, 2022
Written by James Mills
By CRU Research Analyst James Mills, from CRU’s Multi-Commodity Monthly Report
The upside risk to commodity prices created by the war in Ukraine diminished in June as markets assessed the impact of a slower global demand growth outlook, higher inflation expectations, and a continuation of Covid-19 lockdowns in China.
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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).