May 2018

U.S. Merchant Steel Import Licenses

Total Merchant licenses, (representing 10 HTS codes), year to-date, (YTD) through May 28th totaled 332,746 tons down 22.6% from last year’s 430,092 tons. Month to-date, there have been a total of 64,715 tons of Merchant license requests, 37% lower than March 2017 volume of 102,173 tons. Figure 1 shows the overall total Merchant licenses from [...]

U.S. Beam Import Licenses

Beam licenses for May through the 28th totaled just 32,802 tons, down 52,166 tons or down 61.4% from April’s total of 84,967 tons. Year to date, (YTD) beam import license volume through May 28th totaled 227,867 tons, vs. 207,223 tons YTD 2017. Thus far in 2018, wide flange beams accounted for 75.2%, while standard beams [...]

U.S. SBQ Steel Import Licenses

Total SBQ licenses year to date, (YTD) through May 28th totaled 182,709 tons, up 3.7% from the YTD 2017 total of 176,271 tons. Thus far in May, 35,803 tons of licenses have been requested, down 23% from the 46,546 in May 2017. Figure 1 shows the monthly total SBQ licenses for from June 2017 through [...]

U.S. Reinforcing Steel Import Licenses

Rebar licenses year to date, (YTD) through May 28th totaled 654,915 tons, 15.5% lower than the YTD 2017 level of 775,449 tons. So far in May, 110,321 tons have been licensed, 28% of it from Italy. Figure 1 shows the monthly total rebar licenses from June 2017 through May 2018 as well as the corresponding [...]

Global Crude Steel Production and Capacity Utilization

Worldsteel Association (WSA) reports that global crude steel production totaled 148.32 million tonnes (Mt) at a capacity utilization rate, (CUR) of 76.9% in April. Production down 0.6% m/m, and up 4.1% y/y. The Capacity Utilization Rate was up 2.4 percentage point’s m/m, and also up 2.4 percentage point’s y/y. The World Steel Association (worldsteel) currently [...]

The Baltic Dry Index

The Baltic Dry Index (BDI), for April tumbled 286 points to 1,341 month on month (m/m), a 27% decline, and currently averages 1,363 thru May 22nd. Changes on an m/m comparison can be exhibit wild swings as was the case in April. Looked at on a three month moving average, (3MMA) comparison the BDI fell [...]

Architectural Billings Index

April's ABI national overall score of 52.0, up 1.0 point from March’s 51.0 but still well into the expansionary zone, (>50). Although business conditions in the Midwest and Southern weakened, it remained strong in the Northeast and West regions. The new projects inquiry index came in at 56.7, down 1.4 points from last month, while [...]

Currency Report

The dollar Broad Index posted a reading of 95.2 for April, relatively flat month on month yet still close to its lowest level in since July of 2015. The rate of decline has moderated over the past month likely because of the FEDs indication that there will be three and perhaps four interest rate hikes [...]

U.S. Industrial Production

The April Industrial production, (IP) report rises as capacity utilization came in at a three year high, gaining 0.7% month on month, (m/m) which is the third straight month of higher production. On a year on year, (y/y) basis, the IP index was up 3.5%. Prospects for continued growth in 2018 look promising indeed as [...]

Employment by Industry

For the month of April, there were good gains in both construction and manufacturing. The total number of seasonally adjusted (SA), non-farm people employed in the U.S. in April was 148.424 million (M), an increase of 0.11% month on month, (m/m). The SA service providing sector employed 127.865M people in April, up 115,000 jobs, 0.09% [...]