Economy
February 19, 2023
Written by Michael Cowden
Sheet prices continue to push higher even as buyers contacted by Steel Market Update remain divided about the state of demand.
Hot-rolled coil lead times now stand at 5.41 weeks, up from 4.94 weeks in our prior survey and marking the first time this year that HRC lead times have broken out significantly above five weeks.
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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).