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O’Neal Steel June Market Informer

May Sees Biggest Jobs Increase Ever Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3% according to data June 5 from the Labor Department that was far better than economists had been expecting and indicated that an economic turnaround could be close at hand. Economists surveyed by Dow Jones… Read More

O’Neal Steel May Market Informer

Oil Bounces As Investors Bet On The Global Economy Slowly Reopening Oil prices rose once again on April 30 as signs that the global economy is moving towards a slow reopening boost sentiment, and inventory data shows storage demand for the commodity rising slower than expected. West Texas Intermediate has rallied close to 14% on… Read More

O’Neal Steel April Market Informer

Metal Users Want Section 232 Tariff Relief During Coronavirus Pandemic   The coronavirus pandemic has made its mark on supply chains, leaving some companies looking for relief. For some, that means petitioning for tariff relief, particularly from President Donald Trump’s Section 232 steel and aluminum tariffs. One industry group, the Coalition of American Metal Manufacturers… Read More

O’Neal Steel March Market Informer

The Latest on Coronavirus, Its Impact on the Economy and the Industrial Metals Sector As most are certainly aware, the coronavirus has rattled markets, lawmakers, health officials, and the industrial metals industry. Last week culminated in an announcement by the World Health Organization (WHO) that it was raising its risk assessment of the coronavirus to… Read More

O’Neal Steel February Market Informer

U.S. Consumer Spending Rises Steadily; Inflation Remains Tame U.S. consumer spending rose steadily in December, but tepid income gains pointed to moderate consumption growth this year, which together with slumping business investment likely set the economy on a slower growth path this year. While the report on January 31 from the Commerce Department also showed… Read More

O’Neal Steel January Market Informer

U.S., China Expect to Sign Phase One Trade Deal in Mid-January As The Associated Press reported on January 2, President Donald Trump has announced that he will sign the first phase of a U.S.-China trade agreement at the White House in mid-January. Vice Premier Liu He will travel to Washington, D.C. to sign the agreement… Read More

O’Neal Steel Market Informer

Steel Imports Soar By 34.6% In October Steel import permit applications rose to 2.56 million tons in October, according to the U.S. Commerce Department’s most recent Steel Import Monitoring Analysis data. That’s a 29.2% increase from the 1.98 million tons permitted in September and a 34.6% increase from the 1.9 million tons of steel actually imported… Read More

O’Neal Steel Market Informer

Industry News Senate To Resume Consideration Of Transportation Funding Bill Legislation that would provide funding in fiscal 2020 for federal transportation agencies is among the measures set for consideration in the U.S. Senate on October 28. Floor managers have scheduled consideration of the bill. The Senate’s version would provide $74.3 billion for transportation infrastructure programs,… Read More