China's domestic prices continue to rise for the week ending February 15th, with Rebar 20mm experiencing the greatest increase week over week of $26.81/ton and Channel #16 experiencing the lowest increase w/w of $20.23/ton. Although China continues to push efforts to reduce their steel output in 2017, BMI research shows that China is expected to [...]
Overall, total momentum is positive in both the Private and State/Local sectors with momentum of 5.6% and 1.2% respectively. The federal construction spending has a negative momentum, but proportionally is less than 2% of all construction spending (meaning this will not affect the total momentum significantly). Construction Put-In-Place: Total non-seasonally adjusted (NSA), CPIP grew [...]
The Institute for Supply Management’s manufacturing index for January rose to 56.0, up 1.3 points m/m, beating analyst expectations and its best showing for all of 2016. New orders jumped from 60.2 to 60.4 in January the fourth increase in the last five months. The inventory index fell 1.5 points, from 56 to 54.5. (Figure [...]
US oil production increased by 13.8 million barrels from the week of January 27th (494.8 million barrels) to February 3rd (508.6 million barrels). The Energy Information Administration released that this was the second largest weekly climb on record for domestic oil production. In global news, members of the Organization of the Petroleum Exporting Countries (OPEC) [...]
