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Bruce’s Metal Market Commentary – May 2019 - Logo
Bruce's Commentaries / 05.29

Bruce’s Metal Market Commentary – May 2019

Political turmoil and tariff chaos continue to make headlines and cause uncertainty.
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Bruce's Commentaries / 04.15

Bruce’s Metal Market Commentary – April 2019

My brother is 4 years older than I am. When we were little and had a fight, I would say, “I don’t like you, but I love you.” I feel the same way about the economy as it continues to chug along since the Great Recession. New orders of nondefense capital goods, excluding aircraft, had their biggest gain since last July and the total industry capacity utilization rate is the highest in 2 years. The ISM is back up after 2 down months. Consumer confidence as measured by the University of Michigan rose 4 points last month. Job growth is good and inflation is in check. However, autos, housing and capital equipment are a bit slower.
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Bruce's Commentaries / 03.13

Bruce’s Metal Market Commentary – March 2019

There is an old Chinese proverb that states, “You should live in interesting times.” Actually, it is often said as a curse. Right now, we are certainly living in interesting times. Headline news includes a record $890 billion trade deficit for 2018, which is a 10-year record. The budget deficit is estimated at $1 trillion, and the GDP, which was close to 2.9% growth last year, is forecast to be about 1.5% for this year. Global GDP is still forecast at a very decent 3.0% to 3.5% growth rate, but it is trending down.
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Bruce's Commentaries / 02.15

Bruce’s Metal Market Commentary – February 2019

The old adage in elections and politics is: “It’s the economy, stupid.” Today the adage is: “Look at the economy and don’t listen to politics.” Granted, it is hard not to listen to the tweets and barrage of talk these days, but this is a metal commentary.
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Bruce's Commentaries / 01.17

Bruce’s Metal Market Commentary – January 2019

Even though I know forecasting the future is absurd, it still enables our company to come up with our business and metal assumptions. Our team then develops a strategy and a budget for the year, which is the true benefit of analyzing the forecasts. 
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Bruce's Commentaries / 12.12

Bruce’s Metal Market Commentary – December 2018

The US, Canada and Mexico signed trade agreements although there are still many issues to be resolved. Leaders of the G20 met, and the US and China might have agreed to lessening some tariffs implemented during their trade war. President Trump gave the Chinese government 90 days to act or he would announce more tariffs. We all have a vested interest in ending the trade war.
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Bruce's Commentaries / 10.12

Bruce’s Metal Market Commentary – October 2018

There is still a lot of good economic news, and yet a lot of uncertainty. The economy is strong, with unemployment at its lowest in 50 years and consumer confidence very strong.
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Bruce's Commentaries / 09.12

Bruce’s Metal Market Commentary – September 2018

Economic news continues to be generally positive, with only housing and auto sales showing weakness. Auto sales dipped to 16.7 million in August, the lowest since August 2017, signaling that the expected second-half of the year slowdown is underway.
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Bruce's Commentaries / 08.10

Bruce’s Metal Market Commentary – August 2018

GDP for Q2 grew 4.1%, which is the best pace in nearly four years. Some of the increase was due to higher soybean exports to China to avoid the new Chinese soybean tariffs. Consumer spending was also the strongest in over three years. Most manufacturing indicators continue to be strong, although cars and housing are down slightly. The PMI also dropped to 58.2 from 60.2, but it is still a strong, positive number.
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