June 2017

U.S. Steel Capacity Utilization

US steel production averaged 1.734 million (M), tons per week at an average capacity utilization rate of 73.7% year to date (YTD), in 2017. The most recent four week capacity utilization rate edged-up to 74.6% at an average production rate pf 1.740M tons per week. Figure 1 shows production on the left-hand scale and capacity [...]

Oil and Gas Rotary Rig Counts

The total number of operating rigs in the US the week ending June 16th was 933, 747 oil and 186 gas. Month on month oil rigs were up 27 or 0.8% and gas rigs were up 6 or 3.3%, for an overall increase of 32 or 3.6%. This makes 22 weeks in a row of [...]

U.S. Service Center Shipments

U.S. service center total carbon steel shipments increased by 5.9% year on year (y/y), in May on a three month moving average (3MMA) basis. An encouraging trend, this was the fifth consecutive monthly shipment increase. Table 1 shows percentage change results for shipments, daily intake and inventory level. In all cases the percentage change references [...]

Global Crude Steel Production and Capacity Utilization

World Steel Association (WSA) reports that global crude steel production totaled 143.325 million tonnes (Mt) at a capacity utilization rate (CUR) of 71.8% in May. This was a 0.5 point increase from last Mays’ 71.3% CUR, but down from Aprils recent high of 73.6% On a three month moving average (3MMA), basis, the rate of [...]

Producer Price Index

The PPI for all commodities came in at 192.9 off 0.10% month on month (m/m) but up 4.1% year on year (y/y), in May. This was first downward tick after five months of advances. The material and construction components PPI has increased for 13 months in a row on a three month moving average basis [...]

U.S. Housing Starts and Permits

Total housing starts were reported at a seasonally adjusted (SA), annual rate of 1,092,000 for the month of May. On a three month moving average (3MMA), basis SA total starts came-in at 1,146,000, a 1.2% year on year (y/y), growth rate. Single family housing starts jumped by 8.5%, 3MMA y/y, while multi-family tumbled, -13.2%, 3MMA [...]

U.S. Inventory Census Report

Total seasonally adjusted (SA), inflation adjusted manufacturing inventories totaled $576,651 million (M) at the end of April, down 0.80% month on month (m/m), but up 0.46% year on year, (y/y).The total manufacturing inventories to shipment ratio (I/S), was 1.38 flat m/m and up 0.03 points y/y. The US Census Bureau issues a report on inventory [...]

Global Crude Steel Production and Capacity Utilization

Worldsteel Association (WSA) reports that global crude steel production totaled 142.08 million tonnes (Mt) at a capacity utilization rate (CUR) of 73.6% in April. This was a 3.1 point increase from last Mays’ 70.5% capacity utilization and the highest since September 2015. At the three month moving average (3MMA), rate of current output, annual production [...]

Consumer Credit

Total consumer credit increased by $8.20 billion (B), in April down substantially from March’s $19.54B and far below analyst’s expectations. Both revolving and installment credit fell month on month, (m/m). The 3 month moving average (3MMA) total credit was $14.75B. On a non-seasonally adjusted (NSA), year on year, (y/y) basis, total consumer credit increased by [...]

Continuous Unemployment Claims

New data from the Bureau of Labor Statistics (BLS), shows that continuous claims for unemployment benefits fell by 21,000 for the week ending May 6th, this on the heels of the previous weeks 59,000 decline. Unemployment insurance claims are a count of recipients by state of benefits mandated by federal law. The key advantage of [...]