Get the latest economic and market news with Market Insight from Supply Dynamics. In this month's issue, you'll discover:
- U.S. Economy: The economy added a disappointing 130,000 jobs in August, below economists’ expectations of 160,000, further stoking recession fears and strengthening the Federal Reserve’s argument for another rate cut. The unemployment rate was unchanged at 3.7%, just above a 50-year low.
- Key Economic Indicators: The August 2019 adjusted year-to-date production (through 8/31) for domestic raw steel was 65,313,000 net tons, at a capability utilization rate of 80.8%. That is up 4.1% from the 62,723,000 net tons during the same period last year when the capability utilization rate was 77.3%.
- Industry News: Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, recently announced that effective November 1, 2019, it will implement a new operating model that will result in a leaner, more integrated, operator-centric organization that accelerates the Company’s strategic priorities.
- Trade News and Updates: Global stocks are mostly on the rise after the United States and China took small steps toward cooling trade tensions between each other. China announced Wednesday (9/11) that it would waive tariffs on some U.S. goods. President Trump followed with plans of his own to push back new tariffs on Chinese goods by two weeks.
- Additional Market Insight (from LONGBOW Research): We highlight another month of mixed titanium survey results. While reported volume growth, channel sentiment, and new pricing data points still indicate near-term strength in global industry fundamentals, the forward-looking indicators are still unfavorable. Access Longbow’s Key Takeaways here.
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Published on September 16, 2019