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Core Report | June 07, 2024

Steady domestic mills shipments combined with the continued surge in imports helped to overcome the increase in exports to push total carbon steel consumption higher in April. Total carbon steel consumption (steel shipments + imports - exports) came in at a per/day rate of 277.4k tons in April, up from 265.8k tons/ day in March.

Market Update | June 5, 2024

Sales in May totaled a seasonally adjusted annual rate of 15.9 million units, a small increase from April’s 15.8 million and above May 2023’s 15.5 million unit rate. Actual May U.S. light vehicle sales totaled 1.429 million units, up 8.5% from April and up 4.8% from 1.364 million units in May 2023. Sales are now up for the third time in the last four months on an actual basis.

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Core Report | May 31, 2024

Total carbon steel imports in April continued to push higher, now up for the second consecutive month. Preliminary April carbon steel imports totaled 2.055 million tons, up 4.1% from March and up 19.3% from 1.722 million tons in April 2023.

Market Update | May 22, 2024

After declining in the previous three months, confidence among U.S. consumers rebounded in May. The May Consumer Confidence Index came in at 102.0, up from 97.5 in April. The present situation index increased to 143.1 from 140.6 in April. The expectations index, a short-term outlook, increased nearly 6.0 points to 74.6. Despite rebounding in May, the expectations index remains below 80 for the fourth consecutive month.

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Core Report | May 24, 2024

New orders for manufactured durable goods increased in April, now up for the third consecutive month. New orders were up 0.7% to a $284.1 billion rate from March; this follows a 0.8% increase in March. Excluding the volatile transportation component, new orders were up 0.4%.

Market Update | May 22, 2024

Existing home sales came in at a 4.140 million unit rate, down 1.9% from March and down 1.9% from the 4.220 million unit rate in April 2023. Sales have now declined on a year-over-year basis for thirty-two consecutive months. The inventory of unsold existing homes increased to 1.210 million units, the highest level since October 2022. The current inventory, when combined with April's sales pace, equates to 3.5 months of supply. This is up from 3.2 months in March and above the post-pandemic average of 2.7 months. The median sales price increased to $407,600, up for the third straight month and at its highest level since last June. furnaces overcame the slight increase in water heater shipments. For Q1, total HVAC equipment shipments were up 1.0% from the total in Q1 2023 but were down nearly 10% from the Q1 total in 2022.

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Core Report | May 17, 2024

Shipments of HVAC equipment continued to push higher in March on the back of strong seasonal momentum. HVAC equipment shipments totaled 1.952 million units in March, up 13.0% from February but was were down 2.7% from March 2023.

Market Update | May 15, 2024

On the back of strong seasonal momentum, HVAC equipment shipments totaled 1.952 million units in March, up 13.0% from February but were down 2.7% from March 2023. This was the first year-over-year decline in shipments since December. Looking on a year-over-year basis, to help smooth seasonality, the decline in A/C & heat pumps and furnaces overcame the slight increase in water heater shipments. For Q1, total HVAC equipment shipments were up 1.0% from the total in Q1 2023 but were down nearly 10% from the Q1 total in 2022.

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Core Report | May 10, 2024

After slipping in March, the April Dodge Momentum Index rebounded. The April DMI came in at 173.9, up from 164.0 in March but is below the 184.1 reading in April 2023.

Market Update | May 08, 2024

The April DMI, a leading indicator for non-residential construction spending, came in at 173.9, up from 164.0 in March but is below the 184.1 reading in April 2023. A rebound in the commercial planning component was partly offset by a decline in the institutional planning component. A sharp increase in data center planning, mainly to support the growing Cloud and AI infrastructure, was the leader for commercial planning.