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 previous week.

In a sour note, I just became aware, as I have not been following global, that total worldwide raw steel output fell 3.0% in August, from July. This is the fourth consecutive monthly decline. Even so, the current figures raise the global year-to-date volume to 1.32 billion metric tons, a figure that is 10.6% higher than last year’s January-August tonnage. Good news-bad news.

US Drill Rigs Running Up 260 from One Year Ago

There were 521 drill rigs running in the US last week, up 9 rigs from the previous week, up 260 rigs from one year ago. Meanwhile Canadian drillers added 8 rigs to 162, up 91 rigs from 1 year ago.

Q3 GDP to See Boost from Equipment Spending

Despite a backdrop of a worsening supply chain crisis and rising raw material costs, core capital goods orders climbed in August even as unfilled orders stacked up. A sixth straight monthly increase in shipments of durable goods suggest Q3 GDP will see a boost from equipment spending. Wells Fargo

The Institute for Supply Management (ISM) August 2021 Manufacturing ISM Report on Business 

Economic activity in the manufacturing sector grew in August with the overall economy notching a 15th consecutive month of growth. The report was issued by Timothy R. Fiore, CPSM, CPM., Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.

The August Manufacturing PMI increased 0.4 percent from the July figure of 59.5 percent. The figure indicates expansion in the overall economy. The New Orders Index increased 1.8%. the Production Index increased 1.6 %. The Backlog of Orders Index increased 3.2 percent.

Fiore continues,

Business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented levels to meet increasing demand. All segments of the manufacturing economy are impacted by record-long raw materials lead times, continued shortages of critical basic materials, rising commodity prices and difficulties in transporting products.”

I did not mention anything about the idiots in Washington this week because they have been busy trying to get the so-called “infrastructure” bill passed. By the way, only 10% of the $1.2 Trillion is earmarked for actual infrastructure. In the meantime, they are arguing among themselves on whether or not to pass this bill without the $3.2 Trillion “build back better” bill which is a cornucopia of left-wing wish list bullshit which will be paid for by you and I, our children, our grandchildren, their grandchildren and so on. The idiot in the Oval Office had the nerve to say this bill will “cost zero.” What a load of horse shit that is, those who believe they will not be taxed if they make less than $400,000 per year are in for a rude awakening. Better stock up on KY Jelly…

“MAKE AMERICA GREAT AGAIN”

and

“KEEP AMERICA GREAT”

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.”