Economy
May 18, 2023
Solar tracker maker Nextracker and MSS Steel Tubes USA announced the commissioning of a new factory in Tennessee on Wednesday to make low-carbon steel components for Nextracker’s solar tracking systems.
Nextracker said the Memphis facility will manufacture Nextracker steel torque tubes, create 129 jobs, and generate millions of dollars in local economic investment.
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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).