This Morning in Metals: Manufactured goods orders rise in August

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This morning in metals news: new orders for manufactured goods ticked up by 1.2% in August; meanwhile, Nucor affiliates announced two acquisitions; and, lastly, the WTI crude oil price inched upward last week.

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New orders for manufactured goods rise

automotive production

Anastasiia Usoltceva/Adobe Stock

New orders for manufactured goods rose by 1.2% in August, the Census Bureau reported today.

New orders for the month reached $515.7 billion. The August jump marked the 15th monthly increase in the last 16 months.

Meanwhile, new orders for manufactured durable goods increased by 1.8% in August.

Nucor affiliates announce acquisitions

On Friday, Nucor Corporation announced a pair of recycling facility acquisitions on behalf of The David J. Joseph Company.

Advantage Metals Recycling (AMR) completed the purchase of Grossman Iron and Steel in St. Louis, Missouri, on Sept. 30, Nucor said.

In addition, Trademark Metals Recycling LLC (TMR) agreed to purchase the assets of Garden Street Iron & Metal Inc. in Fort Myers, Florida.

WTI crude price rises

In energy news, the WTI crude price made gains last week.

WTI crude closed Friday at $75.88 per barrel, up by $1.90 per barrel from the previous week, according to the Energy Information Administration. Meanwhile, the price marked a rise of $37.16 from the same week a year ago.

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