Economy
May 15, 2023
Written by Becca Moczygemba
New York-based steel producer 72 Steel Group LLC has announced plans to build a $218-million steel manufacturing plant in Aliquippa, Pa., near Pittsburgh, according to media reports.
The plant on a nearly 44-acre site will produce rebar and products widely used in construction, according to an article in the Pittsburgh Post-Gazette.
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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).