Economy
March 26, 2023
Written by Michael Cowden
We haven’t had a price increase since March 13, the Monday after Silicon Valley Bank collapsed.
It’s entirely possible we’ll get another round of price hikes should mills decide the market will support it or should they want to reverse any bearish sentiment before it gains traction.
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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).