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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U.S. Manufacturing Capacity Utilization: Manufacturing capacity utilization (MCU) reached 76.96% in February 2024, +0.71% month on month (m/m). On a year on year (y/y) comparison, the MCU was a modest -2.0%.
Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in February 2024 was up 1.4%(m/m) to $277.9, following the 6.9% decrease in January. The always-volatile nondefense aircraft orders, down 4.3% y/y, influenced this trend significantly.
Architectural Billings Index: February’s 2024 national Architectural Billings Index of 49.5 was up 3.3 points from January’s 46.2, which is below the expansionary zone, (>50). U.S. architecture firms specializing in Multifamily Residential and Commercial/Industrial all reported a decrease in design activity in February.
U.S. Steel Rebar Final Imports: Final rebar imports to the U.S. came in at 44,588 tons for the month of January 2024, down 13% m/m. Mexico was the largest exporter of rebar with 22,850 tons this month (51%). The Laredo, TX port was the largest receiver of rebar this month, receiving 17,175 tons.
U.S. Steel Merchant Final Imports: Final merchant imports to the U.S. came in at 56,596 tons in January 2024, increasing 44% month over month (m/m). Mexico was the largest exporter to the U.S. with 23,288 tons; Canadian imports came in at 20,165 tons. Laredo, TX was the largest receiver of merchants this month, receiving 18,013 tons of the total.
U.S. Fabricated Beam Final Imports: Final fabricated beam imports to the U.S. came in at 57,796 tons in January 2024, increasing 19% month over month (m/m). Mexico was the largest exporter of fabricated beams with 13,736 tons this month (24%). The Laredo, TX port was the largest receiver of fabricated beams this month, receiving 10,490 tons.
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