Market Update





The Gerdau Market Update tracks and analyzes over 100 data streams that affect long steel consumption, attempting to provide the latest on market trends. Below, you will find the most recent information about Macroeconomics, Steel Econometrics, Construction and Manufacturing as it becomes available.

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Employment by Industry (U.S.): In November 2021, the total number of seasonally adjusted (SA), non-farm people employed in the U.S. was 148.61 million (M) – an increase of 210,000 (+0.1%) month on month (m/m). When compared to November 2020, total employment is up by 4.1% year on year (y/y). Among the employment sectors that we track at Gerdau, we saw the greatest monthly gain in construction, similar to October data.
Crude Oil & Natural Gas Pricing: November’s average West Texas Intermediate (WTI) crude oil price per barrel decreased 2% month on month (m/m) – only its third drop of the year. The WTI is up 95% year on year (y/y), coming in at $79.84 / barrel in November 2021 vs. $40.94 / barrel in November 2020.
Architectural Billings Index: October 2021’s national Architectural Billings Index of 54.3 was down 2.3 points from September’s 56.6, which is within the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and commercial / industrial facilities all reported an increase in design activity in October.
Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in October 2021 decreased by 0.5% month on month (m/m) to $260.1M, following the 0.4% decrease in September. The always-volatile nondefense aircraft orders, up 1000+% y/y, influenced this trend significantly.
Employment by Industry (U.S.): In October 2021, the total number of seasonally adjusted (SA), non-farm people employed in the U.S. was 148.32 million (M) – an increase of 531,000 (+0.4%) month on month (m/m). When compared to October 2020, total employment is up by 4.1% year on year (y/y). Among the employment sectors that we track at Gerdau, we saw the greatest monthly gain in construction.
ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index increased by 4.8 points month on month (+7.8% m/m) to 66.7 in October 2021.
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