Regional Manufacturing Outlook
Thursday | 28 February, 2013 | 4:16 pm

Northeast/Mid-Atlantic

By Bloomberg

Northeast/Mid-Atlantic region on firmer footing heading into 2013

February 2013 - Manufacturing activity in the Northeast/Mid-Atlantic region recently picked up after experiencing somewhat of a lull in the second and early third quarters. Gauges of business conditions from the New York and Philadelphia Federal Reserve have rebounded after bottoming in September and June, respectively. Although manufacturing activity has been uneven, downstream sectors like automotive have been a bright spot, with total annual sales eclipsing the 15 million mark in November for the first time since February 2008.

While gauges of manufacturing activity have remained firm in recent months, durable goods orders (NSA) growth is near its lowest level since early 2010 because companies continue to pare back investments due to the uncertainty surrounding fiscal cliff and tax issues. Despite this, both housing and automotive continue to be bright spots in the economy. Total housing starts hit their highest level since July 2008, driven by gains in the multifamily segment as opportunistic investors continued to take advantage of low rates and buoyant demand for rental units.

Turning upstream, U.S. steel prices trended lower through 2012 with mini price cycles characterizing the hand-to-mouth buying many downstream customers have been exercising. Declining utilization levels, stagnating imports and declining inventories have helped prices find a floor around $600 per short ton, in addition to stable (for coking coal) and rising (for iron ore) raw materials prices.

Going forward, buyers should be aware that prices are globally linked and activities in China heavily influence what happens domestically. Steel prices recently have been rising in China on the back of higher iron ore prices and healthy demand. However, recent strength could fade in the first quarter as restocking comes to an end and steel prices lose their upward momentum. Oversupply will remain a key issue in many markets and will likely continue to keep steel producers in price-taking mode for now.

To view the full report, click here

Data provided by Bloomberg

Interested in purchasing reprints of this article?  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

current-box-latest-issue-red-mm  
MM Cover 7 15 digital

vert-current-linewhiteJuly 2015

Grid Lock

Seeking to restore 'Lost Decade' of metals consumption.

> READ THIS
MONTH'S ISSUE

Advertisement

Instagram - @ModernMetalsMag

Midwest-MM-home-ad-5

Modern Metals on Twitter

Banner

Industry Partners

Alloy Bar Products

Laser Technology

Service Centers

Steel

Sierra Alloys Mitsubishi Laser-MC Machinery Systems, Inc. Reliance Steel & Aluminum Company Central Steel Service, Inc.

Aluminum

Material Handling

United Performance Metals SSAB
Kaiser Aluminum Combilift USA

Stainless Steel

Steel Gratings

Bar

Walker Magnetics Rolled Alloys Fisher & Ludlow
Gerdau Special Steel North America

Perforated & Expanded Metal

Stainless Sales Corporation

Titanium

CNC Cutting (Plasma, Waterjet, Laser, Router)

McNichols Co. Straub Metal International TSI Titanium
Multicam Inc.

Plate

Ta Chen International, Inc.

Training

Coated Coil

Churchill Steel Plate Ltd

Stainless, Nickel, Aluminum, Pipe, Tube & Bar

Veterans Mfg. Institute
Centria Coating Services

Sawing Technology

Prudential Stainless & Alloys, L.P.

Welding & Cutting

Coil Processing

Cosen Saws

 

American Torch Tip
Braner USA KMT Saw

 

 

Butech Bliss Lenox

 

 

Red Bud Industries Sawblade.com

 

 

TrendPublishing

Instagram Icon Large twitter facebook linkedin rss

MM 0715 brandingcovers