Increasing Scrap Prices Affect SBQ Price Hikes
Prices for special bar quality (SBQ) steel products in the US have risen again, moving up by $0.50 per hundredweight ($10 per short ton) due to increasing scrap prices while market participants eye an early 2019 mill base price hike.
US Drill Rigs Running Increased Last Week
The number of drill rigs running in the US increased by 14 last week to 1081, led by New Mexico and Oklahoma (each up by four), while Canadian drilling fell by two rigs to 196.
The National Federation of Independent Business (NFIB) Small Business Optimism Index Fell in October
The National Federation of Independent Business (NFIB) Small Business Optimism Index fell 0.5 points to 107.4 in October. Confidence remains high and businesses are still inclined to expand their operations if they can find the workers they need. Wells Fargo
Midwest Ferrous Scrap Market Enjoyed Second Month of Recovery
The Midwest ferrous scrap market in the USA enjoyed a second month of recovery in November with participants convinced that more upside is on the horizon for the coming months. AMM
Oil Prices Sank Deeper Into Bear Market
Oil prices sank deeper into a bear market on Tuesday, declining for a record 12 consecutive days, as fears of oversupply and weakening demand gripped the market. WSJ
US Raw Steel Production Dipped Last Week
US raw steel production dipped 0.1% last week as mills operated at an ACUR of 81.7%. In the corresponding week last year mills operated at an ACUR of 73.3%. Thus far this year mills have produced prox 82,000,000 tons compared to the prox 78,000,000 tons produced in the like period last year. AISI
Business Activity Continued Solid Growth in New York State
The Federal Reserve Bank of New York issued its Empire State Manufacturing Survey for November 2018 and reports business activity continued to grow at a solid clip in New York State, according to firms responding to the survey.
November 2018 Manufacturing Business Outlook Survey Reports Activity Slowed
The Federal Reserve Bank of Philadelphia released its November 2018 Manufacturing Business Outlook Survey and reports manufacturing activity slowed in the month according to results from the survey. The broad indicators for general activity, new orders, shipments, employment and work hours remained positive but fell from last months readings. The firms remain generally optimistic about future growth.
Honoring Our Veterans
Sunday was Veterans Day, celebrated on Monday. We offer sincere gratitude to all our service men and women and thank them for their service while offer prayers for those who have made the ultimate sacrifice in the defense of freedom. God bless America.
I either did not know, or could not recall, that Armistice Day, celebrating the end of WWI (100 years on Sunday) is now called…Veterans Day.
Acosta & the White House
By the way, in my view, Jim Acosta is a complete idiot. Back in the day, when we were a moral country, everyone respected the office of the Presidency. I did not vote for Obama, but I accepted and respected him as my president. Can you imagine any reporter treating Obama, or any other president, with such disrespect? Acosta is a wholly disrespectful self-serving moron. He is not a journalist, he is a clown seeking the limelight. Fuck off Jim.
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform XX Entitlement Reform
Business Tax Reform XX Education Reform X
Healthcare Reform Veterans Administration Reform X
Rebuild our Military X Trade Reform X
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor XX Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS XX Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term, but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.
TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907
In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”