A View from the Top
Summit Steel President Ross Bushman offers a weekly summary of data and observations regarding the metals industry news, market conditions and their global and domestic impact.
Feel free to contact Ross with your thoughts or comments.
January 2022
See Summit Steel at Shot Show in Las Vegas
See Summit Steel at Shot Show in Las Vegas See Summit Steel at Shot Show in Las Vegas at Booth #51804. We'll be at the Supplier Showcase on Monday and Tuesday, January 17 and 18, at the Sands Convention Center. US [...]
December 2021
Reflecting on 2021
Reflecting on 2021 Reflecting on 2021, first, Happy New Year and I hope you all had a blessed Christmas holiday! We continue to deal with covid and though the hysteria is politically motivated, the reality is that this virus is not [...]
In Hoc Anno Domini
In Hoc Anno Domini In this year of the Lord When Saul of Tarsus set out on his journey to Damascus the whole of the known world lay in bondage. There was one state, and it was Rome. There was one [...]
November 2021
The Desolate Wilderness
THE DESOLATE WILDERNESS Here beginneth the chronicle of those memorable circumstances of the year 1620 as recorded by Nathaniel Morton, keeper of the records of Plymouth Colony, based on the account of William Bradford, sometime governor thereof: So they left that [...]
US Drops Tariffs on Steel and Aluminum Imports
US Drops Tariffs on Steel and Aluminum Imports US drops tariffs on steel and aluminum imports, according to a US Department of Commerce announcement on October 31. It will drop tariffs on steel and aluminum imported from the E.U. and replace [...]
October 2021
New Home Sales Jumped 14%
New Home Sales Jumped 14% New home sales jumped 14% to an 800k-unit pace in September, the strongest since March. The median selling price was up 18.7% over the year, a more moderate increase compared to the 23.3% realized in the [...]
US LEI Rose Again in September
US LEI Rose Again in September The US LEI rose again in September, though at a slower rate, suggesting the economy remains on a more moderate growth trajectory compared to the first half of the year,” said Ataman Ozyildirim, Senior Director [...]
The Annual Inflation Rate Climbed to a 13-Year High
The Annual Inflation Rate Climbed to a 13-Year High The annual inflation rate climbed to a 13-year high of 5.4 percent in September, higher than the estimate, according to the Bureau of Labor Statistics (BLS). Everything is costing more of your [...]
US Drill Rigs Running Up 262 from One Year Ago
US Drill Rigs Running Up 262 from One Year Ago US drill rigs running up 262 from one year ago, increased by 7 from the previous week, for a total of 528 drill rigs running in the US last week. Canadian [...]
Small Business Confidence Rose 0.4 Points
Small Business Confidence Rose 0.4 Points Small business confidence rose 0.4 points in August as five of the ten components of the National Federation of Independent Business (NFIB) Optimism Index improved during the month. Empire State Manufacturing Grew at a Swift [...]
US Steel Industry Ranks Fourth in the World
US Steel Industry Ranks Fourth in the World The US steel industry ranks fourth in the world and in the week ending September 25, 2021, raw steel production was 1,880,000 net tons at an ACUR of 85.2%, up 0.3% from the [...]
September 2021
US Drill Rigs Running Up 241 from One Year Ago
US Drill Rigs Running Up 241 from One Year Ago US drill rigs running up 241 from one year ago. There were 497 drill rigs running in the US last week, down 11 rigs from the previous week, I suspect as a [...]
August 2021
New Orders Increased in New York State in August
New Orders Increased in New York State in August New orders increased and shipments grew slightly, according to the Federal Reserve Bank of New York Empire State Manufacturing Survey for August. It reports business activity continued to expand in New York [...]
491 US Drill Rigs Running Last Week
491 US Drill Rigs Running Last Week There were 491 US drill rigs running in the US last week, up 3 rigs from the previous week, up 244 rigs from 1 year ago. Canada added 3 rigs last week, to 156, [...]
US Economy Added 943,000 Jobs
The US economy added 943,000 jobs in July and the unemployment rate dropped to 5.4 percent. Manufacturing Sector Grew in July for 14th Consecutive Month The Institute for Supply Management (ISM) released its July 2021 Manufacturing ISM Report on Business and [...]