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: The American Steel Industry Is Worried
- Trade War: Trump Says Trade Deal with China "Could Happen Sooner Than You Think"
- Metal Trends & Market Analysis: Copper Ticks Higher on Trade Talk Optimism
- IHS Markit Flash U.S. Manufacturing PMI™: The IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index™ recovered slightly to 51.0 in September, up from 50.3 in August and the highest reading since April. The latest reading signals a modest overall improvement in manufacturing sector business conditions. (IHS Markit)
- The American Steel Industry Is Worried: US Steel, the 120-year-old icon of the sector, told investors that its financial outlook would suffer in the second half of the year because of falling prices and weak demand. US Steel's stock fell 11% last Thursday (9/19) and was the third steel company last week to issue a profit warning to investors. (CNN Business)
Trade War & Global Relations
- Europe Renews Pledge to Retaliate Against Any Trump Car Tariffs: The European Union’s trade chief reiterated a pledge to impose retaliatory tariffs against the U.S. if President Trump follows through on a threat to hit the bloc’s automotive goods with duties. The Trump administration faces a self-imposed deadline of mid-November to decide whether to curb such imports. (Bloomberg)
- Donald Trump Says Trade Deal with China "Could Happen Sooner Than You Think": A deal to end Washington’s trade war with China “could happen sooner than you think," Trump said on Wednesday (9/25), about two weeks before another round of high-level bilateral talks. (South China Morning Post)
Metal Trends & Market Analysis:
- Copper Ticks Higher on Trade Talk Optimism: Copper, considered a bellwether for economic health, has in recent months taken its directional cues from developments in the U.S.-China trade war, which has dampened the demand outlook for industrial metals. However, London copper prices edged higher on Tuesday (9/24) after U.S. Treasury Secretary Steven Mnuchin said he would meet Chinese Vice Premier Liu He for trade talks in two weeks. (Reuters)
SHFE Base Metals Prices Mixed: Base metals prices on the Shanghai Futures Exchange were mixed this morning (9/26), with a firmer U.S. currency offsetting the positivity surrounding renewed hopes of a U.S.-China trade deal. (Metal Bulletin)
About Supply Dynamics
Supply Dynamics provides leading Fortune 500 manufacturers with real-time visibility and control over the “material-input” requirements (metals, plastics, electronics, etc.) of their extended supply chain. Our innovative solutions allow our customers to reduce the cost of raw materials and component parts that go into their products, enhance collaboration with supply chain stakeholders, and ensure that the timely purchase and supply of material-inputs is never the reason a part is late. To learn more, visit www.supplydynamics.com.