Industrial Insight

Copper prices also remain higher suggesting improved markets for steel castings

January 31, 2017
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Oil prices remain higher

January 31, 2017
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Sorry. wrong graph

January 31, 2017
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Steel production has rebounded suggesting an ongoing recovery of demand

January 31, 2017
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Copper prices also remain higher

January 24, 2017
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Oil price steady above $50 a barrel

January 24, 2017
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Steel production stays at higher level

January 24, 2017
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CAB

January 24, 2017
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January 2017 Chemical Activity Barometer

The Chemical Activity Barometer (CAB), a leading economic indicator created by the American Chemistry Council (ACC), started the year on a strong note, posting a monthly gain of 0.4 percent in January. This follows a 0.3 percent gain in December, November and October. All data is measured on a three-month moving average (3MMA). Accounting for adjustments, the CAB was up 4.6 percent over this time last year. On an unadjusted basis the CAB climbed 0.3 percent in January, following a 0.5 percent gain in December.

The Chemical Activity Barometer has four primary components, each consisting of a variety of indicators: 1) production; 2) equity prices; 3) product prices; and 4) inventories and other indicators.

In January all of the four core categories for the CAB improved and the diffusion index was stable at 65 percent. Production-related indicators were positive, with the housing report indicating accelerating activity and trends in construction-related resins, pigments and related performance chemistry generally improved. Other indicators, including equity prices, product prices, and inventory were also positive.


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January 2017 Chemical Activity Barometer

January 24, 2017
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COnstruction

January 18, 2017
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US Spending Hits a 10-Year High, Construction MMI Still Flat

by Jeff Yoders on JANUARY 5, 2017
Style:Market AnalysisCategory:Commodities, Metal Prices, MetalMiner IndX, Premium

U.S. construction spending hit a 10-1/2-year high in November, providing a boost to the Atlanta Federal Reserve Bank’s fourth-quarter economic growth estimate. Reports suggest President-elect Donald Trump will inherit a strong economy, with a labor market near full employment, from the Obama administration.

MetalMiner Price Benchmarking: Current and Historical Prices for the Metals You Buy

The Commerce Department said construction spending increased 0.9% to $1.18 trillion in November, the highest level since April 2006. It was boosted by gains in both private and public sector investment. Our Construction MMI stood pat at 75 this month, likely due to the traditional lag-time between increases in purchasing and price increases for some construction products.

Spending on private construction projects jumped 1% in November to the highest since July 2006 as single-family home building, as well as home renovations, increased. Investment in private nonresidential structures, which include factories, hospitals and roads, rose 0.9% after tumbling 1.5% the prior month.

In addition to the good domestic construction product demand news, China’s Caixin purchasing managers’ index rose to 51.9 in December from 50.9 in November and beat market expectations. The figure marks the sixth straight month of growth and the strongest upturn in Chinese manufacturing conditions since January 2013.

Industrial production in China has been the engine that has driven industrial metals price increases for most of the year and real, sustained demand in the world’s largest producer and consumer of commodities is a positive development for all the metals we track. The incoming Trump administration is also threatening to add further barriers to Chinese imports into the U.S. That’s usually a good thing for domestic prices, but trade wars can have unintended consequences, too.


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