As the AP reported late Thursday, the US economy skirted a recession posting a 0.9% increase in Gross Domestic Product (GDP). According to analysts, a recession is defined as two straight quarters of negative growth. One key factor in keeping the US economy out of recession — exports — helped pull up GDP. Although exports [...]
Only 20 days ago we reported that steel imports were set to rise. And that’s not a minute too soon, given that the price of steel has increased by 49-65% since the start of the year! According to Platts, US steel imports in April increased 14.5% over March and were 3.4% higher than in April [...]
If not, then the peak is possibly in sight, according to Purchasing.com. Drawing on comments made by CIBC Capital Markets, the article states that recent price increases have been more than can be warranted by raw material price increases alone — something long suspected by distributors and consumers alike — and levels now being charged [...]
With so much focus on China these days, it is a little-know fact that Russia, in 5th position, is one of the largest steel exporters in the world. Over half of the total is in ingots and semis such as HR coil and billets. Russia exported some 30 million tons in 2007, making them a [...]
It sounds illogical. A farm bill that provides “government-sponsored insurance, counter-cyclical assistance, disaster aid and legacy payments tied to nothing, the five-year $307 billion bill lavishes cash on wealthy farm households, the main restriction on collecting it being a means test that applies to couples making more than $1.5m a year,” according to an article [...]
How interesting to see that at the same conference two contrary views of the magnesium industry could be aired. Hats off to the IMA for exploring both issues with such vigor. On the one hand, stricter emission laws and the corresponding drive to reduce weight was cited as a reason why magnesium demand will increase [...]
It’s nice to be noticed for doing a great job. It’s quite another to take the heat from a CFO demanding cost reduction for steel and related metals products. Purchasing managers and their staffs have been riding a commodity volatility wave for a few years now. But some executives are just noticing the impact that [...]
Two bits of data to come out after the long holiday weekend. Both not surprising and both still telling the same story – house prices fell 14% from a year ago and though new home sales increased, they fell below expectations. The second bit of economic data relates to the Chicago Fed Midwest Manufacturing Index which [...]
