Steel Dynamics Announced Base Price Increase Steel Dynamics (SDI) announced a base price increase for Special Bar Quality (SBQ) products of $50/per ton ($2.50/cwt) effective with September 1 shipments. I'm sure the other hot mills and drawing mills will follow with their own announcements soon enough. Chicago Fed National Activity Index (CFNAI) Rebounded in June [...]
USA Drill Rigs Running Rose by 10 Last Week to 491 The number of USA drill rigs running rose by 10 last week to 491, led by Texas, up by eight. At this time last year there were 885 American drill rigs (AMM) pulling black gold from the earth. We have got a ways to [...]
Automotive, Mining, Energy & Agriculture - Economic Driving Industries Down The Federal Reserve Bank of Richmond Fifth District Survey of Manufacturing Activity manufacturing activity slowed in September. Order backlogs and new orders decreased while shipments declined…manufacturers anticipated improved business conditions during the next six months. Producers expected faster growth in shipments and in the volume [...]
On Friday the government released its third and final estimate of GDP for the 2nd quarter of 2014. It showed GDP in the April, May, June quarter increased at an annual rate of 4.6%. That’s pretty solid growth. This is not the best way to start the week economically: Led by declines in production-related indicators, [...]
