Core Report | October 18, 2024
Domestic raw steel production rebounded slightly last week after scheduled maintenance outages lowered production the week prior.
Core Report | October 11, 2024
After slipping in July, shipments of HVAC equipment rebounded in August. August HVAC equipment shipments totaled 2.049 million units, up 2.0% from July and up 6.1% from August 2023.
Core Report | October 4, 2024
Domestic raw steel production had the largest week-over-week decline since 2020 last week as mills continue maintenance outages. U.S. mills produced an estimated 1,646k tons at a 74.1% utilization rate; this is down from 1,707k tons and a 76.9% rate previously. This is the lowest utilization rate and tonnage output since January 2023.
Core Report | September 27, 2024
Coking coal pricing increased sharply this week, now up for the second consecutive week. Coking coal settled at $204.75/mt, up from $187.50/mt last week. This is up 13.75% over the last two weeks. Steelmakers in India have been building up stocks in anticipation of rising domestic demand, and in China, mills were stockpiling coal ahead of the upcoming Golden Week and anticipated stimulus demand.
Core Report | September 20, 2024
Business activity from the manufacturing sector in the New York region increased for the first time in nearly a year in September. The September Empire Manufacturing Index increased sharply to 11.5, up 16.2 from August. This was the strongest monthly growth since December 2021. The two-month average increased to 3.4, ending a string of nine consecutive negative readings.
Core Report | September 13, 2024
The Dodge Momentum Index continued to push higher in August, now up for the fifth consecutive month. The August DMI came in at 220.4, up from a revised 214.2 reading in July and up sharply from the 178.0 reading in August 2023. This is the highest reading since December, coming in just below that all-time high level.
Core Report | September 6, 2024
This week, a handful of domestic suppliers, along with the USW, filed petitions for new anti-dumping and counter-vailing duties on corrosion-resistant sheet imports. SDI, Nucor, U.S. Steel, Wheeling-Nippon, and the USW, state that unfairly traded corrosion-resistant sheet imports have materially injured the U.S. domestic industry.
Core Report | August 30, 2024
Confidence among U.S. consumers increased again in August, now up for the second consecutive month. The Consumer Confidence Index came in at 103.3, up from 101.9 in July.
Core Report | August 23, 2024
After sliding the previous four months, sales of existing homes picked up in July. July existing home sales came in at a 3.950 million unit rate, up 1.3% from June but were still 2.5% below year-ago levels.
Core Report | August 16, 2024
Despite all the weaker economic data of late, one thing remains consistent and that is that the U.S. consumer continues to spend. The July retail sales came in at a $709.7 billion rate, up 1.0% from June and up 2.7% from July 2023.
