Market Update | March 19, 2025
Industrial production increased 0.7% from January and is at its highest level in recent history.
Market Update | February 26, 2025
The upward pricing momentum accelerated this week with prices now closing in on nine-month highs, with current mill offerings closer to fresh 52-week highs. Increased buying activity, steady demand, and rising costs, particularly from scrap, continue to add fuel to the current market upswing.
Market Update | February 26, 2025
The upward pricing momentum accelerated this week with prices now closing in on nine-month highs, with current mill offerings closer to fresh 52-week highs. Increased buying activity, steady demand, and rising costs, particularly from scrap, continue to add fuel to the current market upswing.
Market Update | February 12, 2025
President Trump said on his first day in office during an Oval Office signing ceremony that his administration is planning to impose 25% tariffs on Mexican and Canadian imports as soon as February 1. He also said his administration is not yet ready to impose universal tariffs. As a reminder, the U.S. receives about 40% of its imported steel from Canada and Mexico and sends 90% of its exported steel to those two countries. The 25% tariffs on Canada and Mexico are likely to support steel prices.
Market Update | February 6, 2025
President Trump said on his first day in office during an Oval Office signing ceremony that his administration is planning to impose 25% tariffs on Mexican and Canadian imports as soon as February 1. He also said his administration is not yet ready to impose universal tariffs. As a reminder, the U.S. receives about 40% of its imported steel from Canada and Mexico and sends 90% of its exported steel to those two countries. The 25% tariffs on Canada and Mexico are likely to support steel prices.
Market Update | January 22, 2025
President Trump said on his first day in office during an Oval Office signing ceremony that his administration is planning to impose 25% tariffs on Mexican and Canadian imports as soon as February 1. He also said his administration is not yet ready to impose universal tariffs. As a reminder, the U.S. receives about 40% of its imported steel from Canada and Mexico and sends 90% of its exported steel to those two countries. The 25% tariffs on Canada and Mexico are likely to support steel prices.
Market Update | December 18, 2024
November new housing starts were at a 1.289 million unit rate, down 1.8% from October and down 14.6% from the 1.510 million unit rate in November 2023. This is the lowest monthly start rate since July. The drop in starts in November mainly came from multi-family units, which came in at their lowest rate since March. However, permits, an indicator for future construction, increased after sliding in the previous two months.
Market Update | December 11, 2024
Now up for the third consecutive month, total construction spending continued to increase in October. Total spending came in at a $2.174 trillion rate, up 0.4% from September and up 5.0% from the $2.071 trillion rate in October 2023. Despite the continued year-over-year increases, this was the smallest increase since April 2020. While non-residential construction declined, the boost in residential spending helped lift the overall number. Residential spending was up 1.5% from September and up 6.4% from October 2023.
Market Update | December 04, 2024
Now up for the third consecutive month, total construction spending continued to increase in October. Total spending came in at a $2.174 trillion rate, up 0.4% from September and up 5.0% from the $2.071 trillion rate in October 2023. Despite the continued year-over-year increases, this was the smallest increase since April 2020. While non-residential construction declined, the boost in residential spending helped lift the overall number. Residential spending was up 1.5% from September and up 6.4% from October 2023.
Market Update | November 20, 2024
Light vehicle production totaled 966,169 units in October, up 10.1% from September and up 14.5% from the strike-impacted 843,625 units last October. On per/day basis, auto production was at its highest daily rate since April. Sales have now increased, on a year-over-year basis, in consecutive months.
