July 2017

China Domestic Prices


China Metals Weekly (CMW), July 19th newsletter reported that prices were up across all product lines on a week on week (w/w), basis. Angles advanced 4.1% to $529 per ton, channels increased by 2.9% to $510. Beams rose 2.6% to $510. Wire rod priced increased 1.8% to $505 and rebar jumped by 6.4% w/w to [...]

China Domestic Prices2017-07-20T20:11:22+00:00

Currency Report


The US dollar (USD) has fallen for six consecutive months against the Broad Index, (a trade weighted basket of currencies). The June 2017 Broad index value was 97.77, down 1.3% from the May’s reading and down 2.8% compared to 3 months ago. Table 1 lists the values of the USD measured in the currency of [...]

Currency Report2017-07-20T20:15:23+00:00

U.S. Housing Starts and Permits


Total housing starts were reported at a seasonally adjusted (SA), annual rate of 1,215,000 for the month of June. On a three month moving average (3MMA), basis SA total starts came-in at 1,164,000, a 0.4% year on year (y/y), growth rate. Single family housing starts jumped by 9.1%, 3MMA y/y, while multi-family tumbled, -16.0%, 3MMA [...]

U.S. Housing Starts and Permits2017-07-20T19:11:29+00:00

U.S. Inventory Census Report


Total seasonally adjusted (SA), inflation adjusted manufacturing inventories totaled $576,243 million (M) at the end of May, flat month on month (m/m), but up 0.6% year on year, (y/y).The total manufacturing inventories to shipment ratio (I/S), was 1.38 flat m/m and up 0.02 points y/y. The US Census Bureau issues a report on inventory levels [...]

U.S. Inventory Census Report2017-07-17T20:46:19+00:00

U.S. Industrial Production


The IP index on a three month moving average (3MMA), basis ticked up 0.4% month on month (m/m), beating analysts’ expectations of 0.3% growth. Industrial production advanced at an annual rate of 4.7% the Q2 as mining (includes oil exploration) and utilities were the principal contributors. Manufacturing output rose at an annual rate of 1.4%, [...]

U.S. Industrial Production2017-07-14T17:02:46+00:00

Producer Price Index for Construction


The Bureau of Labor Statistics (BLS), Producer Price Index (PPI) program measures the average change over time in the selling prices received by domestic producers for their output.  U.S. wholesale prices increased slightly in June but are not rising rapidly, providing further evidence that inflation is well contained. The PPI edged up 0.1% last month, the government said [...]

Producer Price Index for Construction2017-07-13T17:38:22+00:00

Beige Book Summary


The national summary from mid-May through June is that; The economy continued to expand in all 12 districts at a slight to moderate pace.  Tight labor markets are reducing the rate of hiring and causing wages to rise moderately. Consumer spending remained strong, with the exception of slower automobile sales. The housing market is strengthening. [...]

Beige Book Summary2017-07-13T12:55:26+00:00

U.S. Merchant Steel Import Licenses


Merchant licenses (YTD) through July 7th totaled 9,823 tons, down 86% from last month’s 70,456 tons. Year to date (YTD), there have been a total of 540,316 tons of Merchant license requests, down 2.9% from the 556,613 tons licensed YTD 2016. Figure 1 shows the overall total Merchant licenses through July for both 2016 and [...]

U.S. Merchant Steel Import Licenses2017-07-13T16:37:10+00:00

U.S. Reinforcing Steel Import Licenses


Rebar licenses thus through July 7th totaled just 21,112 tons, plummeting 92% month on month (m/m) from the April, May, June average of 158,993 tons. Year to date (YTD), there have been a total of 1,057,811 tons of rebar license requests, down 295,244 tons or 21.8% from YTD 2016. Figure 1 shows total rebar licenses [...]

U.S. Reinforcing Steel Import Licenses2017-07-11T21:07:07+00:00

U.S. Wire Rod Import Licenses


Wire Rod licenses as of July 7th totaled 15,618 tons, plummeting 92% month on month (m/m). In April, May and June licensed tons were 176,963, 219,981 and 194,093 tons respectfully.  On a year to date (YTD), y/y basis license volume was flat at 1,102,641 tons in 2017 vs. 1,101,569 tons in 2016. Figure 1 shows [...]

U.S. Wire Rod Import Licenses2017-07-11T21:04:22+00:00