The total tonnage for the week ending June 22nd was 1,873 million tons, (Mt) at a capacity utilization rate of 80.5%, the twenty-third consecutive week where the utilization rate is over 80%. For the first 25 weeks of 2018, total tonnage output was 44,079Mt, at an average capacity utilization rate of 75.4%. For the same [...]
Active U.S. rigs declined by 1.6% MoM and down 8.1%YoY per Baker Hughes. The total number of operating rigs in the U.S. the week as of June 21st was 967 with 789 oil rigs and 177 gas. In percentage terms, on a month on month, (m/m) basis, oil rigs were down 1.0% as gas rigs [...]
The U.S. Census Bureau reported new orders for durable goods orders declined 2.1% month on month, (m/m) in April. The slowdown was driven by exports and a buildup of inventories. Orders for non-defense capital goods excluding aircraft dropped 0.9% last month as demand weakened almost across the board, the Commerce Department said The Advance Report [...]
Figure 1 shows manufacturing and construction employment on the same chart from 2005 to present. Both manufacturing and construction employment are showing growth, construction is growing at a faster rate on a percentage basis. Legislation is also being put in place to encourage construction employment. For example, in exchange for the tax relief, the legislation [...]
Total number of operating rigs in the U.S. the week as of May 10th was 988, 805 oil and 183 gas. In percentage terms, on a month on month, (m/m) basis, oil rigs were down 0.2%, (-2 rigs) as gas rigs posted no change. On a year on year, (y/y) comparison, rigs were down 4.6% [...]
The Baltic Dry Index (BDI), for April 2019 increased 95 points to 775 month on month (m/m), a 14% increase. Looked at on a three month moving average, (3MMA) comparison the BDI fell 2.0% to 695 m/m. On a 3MMA year on year basis, (y/y), the BDI was 31.2% lower. The BDI has averaged 1,201 [...]
On a three month moving average, (3MMA) basis, March total carbon steel shipments averaged 147,286 tons per day, compared to 162,819 tons per day in March 2018 (-9.5 % year on year, (y/y). Figure 1 shows percentage change results for shipments, daily intake and inventory level. In all cases the percentage change references 3MMA y/y. [...]
The Consumer confidence index rolled-back 7.3 points in March according to the Conference Board. The index now stands at 124.1. Despite the decline, the index remains at elevated levels with a positive trend line. On the other-hand, the labor market continues to show impressive gains and workers remain confident about their future. On a year [...]
In February 2019 there were 150.606 million (M), an increase of 0.21% month on month, (m/m). Figure 1 shows manufacturing and construction employment on the same chart from 2005 to present. Both manufacturing and construction employment are showing growth, construction is growing at a faster rate on a percentage basis. The SA manufacturing sector employed [...]
The total number of operating rigs in the U.S. the week ending December 31st was 1,048 with 860 being oil and 186 gas. In percentage terms, on a month on month, (m/m) basis, oil rigs were down 1.0% and gas rigs remained flat m/m. On a year on year, (y/y) comparison, rigs were up +13.8% for [...]
