Supply Dynamics’ OEM Insights
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Take a look at this week's roundup of the most current and compelling industry news, updates, and trends related to OEMs and anything that impacts them. Read on to discover the latest in:
- Industry News: U.S. Manufacturing Slips in June
- Trade War: S&P 500 Sets New All-Time Closing High
- Metal Trends & Market Analysis: Steel—The Rust and Rolled Report
- U.S. Manufacturing Slips in June: The U.S. factory sector lost momentum again last month. The Institute for Supply Management said its manufacturing index slipped to 51.7 in June from 52.1 in May. Readings above 50 indicate activity is expanding, while those below 50 signal contraction. (WSJ)
Boeing’s 737 Max Software Outsourced to $9-an-Hour Engineers: More insight into Boeing's 737 Max crisis—the iconic American planemaker and its subcontractors have increasingly relied on temporary workers making as little as $9 an hour to develop and test software, often from countries lacking a deep background in aerospace—notably India. (Bloomberg)
- U.S.-China Trade Talks Are Back On but Obstacles Remain: Although Trump and President Xi managed to get trade talks back on track this past weekend, an even tougher job of appeasing hard-line factions within their own governments, demanding they give no quarter, now remains. (WSJ)
- S&P 500 Sets New All-Time Closing High: While ISM's index fell in June, the S&P set a new closing record high Monday, July 1, surpassing its all-time high from last month, as investors breathe a sigh of relief following the trade developments over the weekend. (CNN Business)
Metal Trends & Market Analysis
- Steel—The Rust and Rolled Report (from LONGBOW Research): June closes out one of the weakest and most confusing quarters that we can remember. Feedback collected from various channel checks and other macro events represents cautious leading indicators for steel producers and distributors ahead of the 2Q reports starting in late July. While steel industry shipments and spot pricing should stabilize/improve over the next few months, the market floor is lower than originally anticipated.
Access LONGBOW's Key Takeaways here.
Dow Jones Broadly Buoys LME Base Metals: Base metals traded on the London Metal Exchange made marginal gains this morning, July 3, buoyed by the 0.26% rise in the Dow Jones index. (Metal Bulletin)
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