US Consumer Confidence

We monitor and report on consumer confidence because it has a strong correlation with steel consumption. Consumer spending represents approximately 70% of GDP. When consumer confidence is strong, it leads to increased steel consumption. The December 2016 composite score reached its highest reading since August 2007 at 113.7, Figure 1. Figure 1 On a 3MMA, [...]

Portland Cement Shipments

We monitor and report on Portland cement shipments because it is an excellent proxy for rebar consumption as well as a good indicator of the current status of the construction market. For the 3MMA ending October, shipment volume was down 0.4% y/y, however the 12 month moving total (MMT) increased by 3.5%, (Figure 1). Figure [...]