The total tonnage for the week ending October 7th was 1,741 million tons, (Mt) at a capacity utilization rate of 74.7%, 1.5 percentage points higher than the previous week. On a four moving average, (4WMA) basis, the capacity utilization rate was 0.5 percentage point lower at 74.2%. The 4WMA tonnage was 1,728 Mt, 9.8% greater [...]
The series of Hurricane’s Harvey, Irma and Maria are causing a lot of volatility in initial claims for unemployment insurance benefits. For the week ending September 30th, seasonally adjusted, (SA) initial claims for unemployment fell by 12,000 from the previous week to an unrevised level of 260,000. The four week moving average, (4WMA) moved, down [...]
For the first time in nearly seven years the U.S. economy lost jobs as the latest jobs report from the Bureau of Labor Statistics (BLS) reported that the economy shed 33,000 jobs in September. The job losses can be attributed to a sharp employment decline in food services and drinking places and below growth-trend in [...]
After a rapid rise between 2014 and 2016, the Broad Index, has fallen month on month, (m/m) for the eight month in a row. On a three moving average, (3MMA) y/y comparison, the dollar has fallen for seven consecutive months. A falling dollar is good news for steel companies and manufacturers that export. Figure 1 [...]
Cement consumption moved-up in July for the second month in a row. For the three months total (3MMT), ending July, national Portland cement shipments rose by 2.6% on a 3MMT year on year (y/y), basis. Five of the nine census regions posted higher 3MMT cement shipments y/y. Figure 1 shows the three month moving average shipments [...]
The Dodge Momentum Index fell 3.1 points in August to 129.1 or -2.3% month on month, (m/m) from its revised July reading of 132.2. A large drop in the commercial sub-index was the main reason for the decline. The Momentum Index is a monthly measure of the initial report for nonresidential building projects in planning, [...]
The September BDI three month moving average jumped 17.3% month on month (m/m) and surged 54.5% on a year on year, (y/y) comparison. The BDI has averaged 1,022 over the past 12 months, ranging from a low of 759 to a high of 1,364. The highest level of 1,364 was this month’s reading The BDI [...]
Manufacturing activity continued to improve in September helped by a depreciated U.S dollar and a stronger global economy. The Purchasers Manger’s Index posted a score of 60.8, up 2.0 points month on month, (m/m) surpassing analysts’ expectations. The index is now at its highest level since July 2004. The new order sub index was 64.6, [...]
U.S. GDP performed a little better than initially reported. The annualized Gross Domestic Product (GDP), growth rate in the third estimate of the second quarter, (Q2) of 2017 was revised upwards to 3.1%. This was a 0.5 point upward revision from the first estimate of 2.6% and a 0.1 point upward revision from the second [...]
China Domestic Prices: China Metals Weekly (CMW), September 28th newsletter reported that for the third week in a row, long products prices fell across the board on a week over week basis from. On a month over month (m/m), basis long products increased for all angles and channels but were down for wire rod, beams [...]
