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Economic conditions in the manufacturing sector contracted again in May, though sentiment improved modestly compared with the previous month, the nation’s purchasing managers indicated in the latest PMI Report from the Institute for Supply Management. The May PMI was 43.1 percent, up 1.6 percentage points from the April reading.
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World crude steel production totaled 137.1 million tons in April, a 13 percent decline compared with the same month in 2019, the World Steel Association reports. Due to the ongoing COVID-19 pandemic, many of the month’s figures are estimates that may be revised later.
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Steel Market Update has shifted its annual Steel Summit event to a virtual gathering. The three-day event will continue with the same schedule planned for the in-person conference Aug. 24-26 in Atlanta.
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Metal shipments in the U.S. and in Canada fell at double digit levels in April due to the effects of the COVID-19 pandemic, eliminating the gains made since the last recession, reports the Metals Service Center Institute in its latest Metals Activity Report.
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Metalforming companies expect the challenging times to continue over the next three months, reports the Precision Metalforming Association, Cleveland, in its latest Business Conditions Report. However, they were slightly more optimistic than they were in the April report.
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U.S. steel mills shipped 7.8 million tons of steel in March, a 0.4 percent increase compared with the previous month, the American Iron and Steel Association reports. Shipments were down 6.3 percent compared with March 2019.
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Imports of total steel products declined 21.7 percent and finished imports were down 25.6 percent through the first three months of the year, the American Iron and Steel Institute reported. Total imports were at 6.4 million and finished imports totaled 4.5 million tons.
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The Aluminum Extruders Council and the ET Foundation have postponed the 12th International Aluminum Extrusion Technology Seminar to 2021. The ET Seminar, which had been scheduled for later this month, will now be held May 11-13, 2021 at the Hilton Orlando in Florida.
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Economic activity in the manufacturing sector contracted in April, and the overall economy contracted for the first time in more than 10 years, the Institute for Supply Management reported. The PMI for April was 41.5 percent, down 7.6 percentage points and the lowest level in more than 10 years.
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The Aluminum Association is asking for significant reforms to the Commerce Department’s Section 232 tariff exclusion system. The association submitted a letter to Commerce Secretary Wilbur Ross.
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