The Institute of Supply Management released their March report on April 1st. An explanation of the ISM index is given at the end of this piece. After the October surprise on the upside, the index slid back to 55.1 in December to 53.5 in January, to 52.9 in February and to 51.5 in March. Any […]
Both these data points are reported in the Federal Reserve G17 data base. The IP index was reported as 105.8 for February a slight increase of 0.08 from January. The three month moving average (3MMA) was 105.87, down by 0.17 from January which was the highest value ever and the ninth straight month where the […]
The Institute of Supply Management released their February report on March 2nd. An explanation of this data set is given at the end of this piece. After the October surprise on the upside, the index slid back to 55.1 in December to 53.5 in January and to 52.9 in February. The three month moving average […]
The Institute of Supply Management released their January report on February 2nd. An explanation of this data set is given at the end of this piece. After the October surprise on the upside, the index slid back once again from 55.1 in December to 53.5 in January. The three month moving average has declined for […]
The ISM Manufacturing Index retreated again in December. The Institute of Supply Management released their December report on January 2nd and after the October surprise on the upside, the index slid back once again from 59.0 to 58.7 in November and to 55.5 in December, however this is still equal to the average for the […]
Both these data points are reported in the Federal Reserve G17 data base. The IP index was reported as 106.66 for November an increase of 1.26 percent from October. The three month moving average (3MMA) was 105.75 which was the highest value ever and the sixth straight month where the growth of the 3MMA exceeded […]
The Institute of Supply Management released their November report on December 2nd and after the October surprise on the upside, the index slid back slightly from 59.0 to 58.7. However, this is still the third best result of the year. Any number >50 indicates expansion and this was the eighteenth straight month for which this […]
The Bureau of Labor Statistics (BLS) report on non-farm employment indicated that 214,000 jobs were added in October, September and August were revised up by 8,000 and 23,000 respectively. The three month moving average, (3MMA) has declined for four straight months but this job recovery is stronger than was the case in the mid-2000s, (Figure […]
ArcelorMittal reported $20 billion in sales for third quarter on 21.5 million tonnes (23.7 million tons) of steel shipments. Net income for the quarter was $22 million, compared to $52 million in Q2 2014 and a net loss of $193 million in Q3 2013. Total crude steel production for the company was 23.9 million tonnes […]
The Institute of Supply Management released their October report on November 2nd and the report surprised analysts on the upside. The October purchasing managers index, PMI registered 59.0 up from the 56.6 reading in September and equal to the August result. Any number >50 indicates expansion and this was the seventeenth straight month in which […]
The Institute of Supply Management released their October report on November 2nd and the report surprised analysts on the upside. The October purchasing managers index, PMI registered 59.0 up from the 56.6 reading in September and equal to the August result. Any number >50 indicates expansion and this was the seventeenth straight month in which […]
SSAB Americas sales jumped 29 percent year over year to SEK 3,716 million ($507 million) for an operating profit of SEK 558 million ($76 million). Profit was attributed primarily to higher steel prices and improved productivity. Steel shipments increased 5 percent to 559,000 tonnes (616,191 tons) on a year over year basis and 7 percent […]
NLMK USA crude steel production at NLMK Indiana grew 11.5 percent q/q in the third quarter to 175,000 tonnes (192,901 tons). Capacity utilization increased to 91 percent. Rolled steel output at NLMK USA totaled 515,000 tonnes (567,680 tons) a decline of 4.9 percent quarter over quarter. Sales for third quarter rolled-steel totaled 531,000 tonnes (585,317 […]
Manufacturing activity grew for the 16th consecutive month but slowed to a PMI reading of 56.6 in September’s Manufacturing ISM Report on Business. While economists were expecting a smaller drop of 58.2 to 58.5 from last month’s reading of 59.0, U.S. manufacturing is still holding strong. “The September PMI registered 56.6 percent, a decrease of […]
Industrial production (IP) and manufacturing capacity utilization for August 2014: Both of these data points are reported in the Federal Reserve G17 data base. The IP index was reported as 104.12 for August, a decline of 0.1 percent from July. This is another example where the individual month’s result can be misleading. The three month […]
The August ISM Purchasing Manufacturing Index increased 1.9 points to a reading of 59.0, its highest reading since March 2011. Survey respondents report business is strong but expressed concern over geopolitical issues. New orders and production each increased 3.3 percent to 66.7 and 64.5, respectively. The new orders index was the highest seen since April […]
Ford has begun transforming its Dearborn plant for production of the all new aluminum-bodied F-150 pickup. The last steel-bodied F-150 left the line on August 23rd and the plant was closed to start replacing the old machinery with new. The conversion will cost Ford $359 million and idle production until September 22. Ford employees, approximately […]
Ford has begun transforming its Dearborn plant for production of the all new aluminum-bodied F-150 pickup. The last steel-bodied F-150 left the line on August 23rd and the plant was closed to start replacing the old machinery with new. The conversion will cost Ford $359 million and idle production until September 22. Ford employees, approximately […]
Olympic Steel & Aluminum posted the highest net sales in its history. Second quarter sales increased 16.7 percent year-over-year to $386.0 million, due to increased market share and higher sales volume. Net income jumped 38 percent to $3.5 million from $2.5 million in Q2 2013. Flat product volume was up 17 percent in Q2 to […]
The July ISM Report on Business indicates that activity in the manufacturing sector increased last month. The July PMI rose 1.8 percent to 57.1 for the highest reading since April 2011 and the 14th consecutive monthly increase. A PMI reading in excess of 43.2 percent, over a period of time, also indicates an expansion of […]
Durable goods orders increased 0.7 percent after dropping 1.0 percent in May, according to data released by the US. Census Bureau. New orders, excluding transportation, increased 0.8 percent. Excluding defense, new orders increased 0.7 percent. Machinery led the advance in June with a 2.4 percent increase in new orders. “Durable goods orders climbed 0.7% in […]
Improved demand and higher prices in North America helped SAAB Americas report a strong profit for second quarter and the first half of 2014 after reporting losses in both time periods in 2013. SSAB Americas steel sales soared 15 percent year over year in the second quarter of 2014 and 9 percent on a quarterly […]
Statistical data out of China is always questioned for a number of reasons, not least is, “Is the data politically motivated.” Other suspicions arise because China gets their data out faster than any other major economy and the data is never revised. Figure 1 shows published data for the growth of GDP, industrial production and […]
The Institute of Supply Management released their June report on July 1st. The June PMI registered 55.3 percent, down slightly from 55.4 percent in May. Any number > 50 indicates expansion and this was the thirteenth straight month for which this was the case. The three month moving average (3MMA) advanced for the third consecutive […]
The Institute of Supply Management released their June report on July 1st. The June PMI registered 55.3 percent, down slightly from 55.4 percent in May. Any number > 50 indicates expansion and this was the thirteenth straight month for which this was the case. The three month moving average (3MMA) advanced for the third consecutive […]
Manufacturing expanded for the 12th consecutive month in May according to the Manufacturing ISM Report on Business released by the Institute of Supply Management. The PMI registered 55.4 percent, an increase of 0.5 percent. The new orders index grew 1.8 points to 56.9. The production index gained 5.3 points to a reading of 61.0 percent. Employment continued […]
Durable Goods, a measure of the health of the steel industry, saw new orders increase for the fourth consecutive month in April ,continuing the healthy trend that has existed since the recession. Both March and April were above trend, (Figure 1). The three month moving average (3MMA) increased in both March and April, (Figure 2). […]
The Canada Monthly Survey of Manufacturing, March 2014 was just released indicating a 0.4 percent improvement in manufacturing sales in March. Higher sales were seen in food, machinery and plastics & rubber, but were offset by declines in paper, petroleum and coal products. Two thirds of the manufacturing sector had increased sales in March with […]
The Institute of Supply Management released their April report on May 1st. The April PMI registered 54.9 percent up from 53.7 percent in March. Any number >50 indicates expansion and this was the eleventh straight month for which this was the case. The three month moving average (3MMA), which had declined for the last three […]
SSAB Americas felt the effects of the winter freeze in the first quarter of 2014. Sales for the Americas segment were SEK 3,685 million ($559 million), down 2 percent from fourth quarter 2013 but 7 percent higher than Q1 2013. Higher prices and a favorable product mix were offset by lower volumes. External steel shipments […]