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Recession worries may be overblown
Are traditional market indicators no longer valid? Have underlying assumptions changed enough that we need to rethink how we predict upcoming recessions?
Wood construction faces challenge in Atlanta suburb
Atlanta suburb moves to ban wood-frame construction for certain building segments, citing fire hazards among other issues.
Insight from 2015 KPMG Family Business Survey
Further corroboration that successful family businesses maintain — even encourage — a culture of continuous but smart risk-taking, and are encouraged to consider non-family executive leadership to infuse objective and fresh ideas into the family firm.
Full Article: “Improve family business performance by taking smart risks,” by David Harland, CPA. May 13, 2016
DOW closes at record high
From NYTIMES.COM, 3/5/2013
“Despite everything, the stock market is back at a record high. The Dow Jones industrial average, which measures the performance of 30 blue-chip companies, closed with a gain of more than 125 points Tuesday, surpassing its previous record close of 14,164.53, which it achieved nearly five and a half years ago, as well as its record intraday high, set around the same time, of 14,198.10.”
Click here for full article…
New AMM Article
Source: American Metal Market
Click here for the full text of the article (subscribers only)
Steel rebar purchasing co-op gaining traction
Mar 01, 2013 | 04:50 PM | Samuel Frizell
NEW YORK — A two-month-old steel purchasing cooperative for independent reinforcing bar fabricators is picking up speed, participants told AMM, with the handful of suppliers already on board reporting a pick-up in ordering activity from member rebar fabricators in what is traditionally a slow season for long products.
“We’ve gotten some business from people we had not done business with (before joining the co-op),” said Parker Arthur, sales manager at Steel Dynamics Inc.’s Roanoke Bar division, a supplier to the Independent Steel Alliance (ISA) co-op.
A source at another ISA supplier who declined to be named said his company has also seen an uptick in buying activity from member fabricators since joining the co-op, which was incorporated in May 2012 and officially launched Jan. 1 (amm.com, Jan. 23).
“What we’re seeing now is the member accounts where we’d get one out of four trucks, now we’re getting three out of four,” he said.
In addition to SDI, the ISA also lists among its approved steel suppliers Byer Steel Corp., Salit Specialty Rebar and BlueLinx Corp., among others who preferred not to be named, ISA president and founder Chris Casey told AMM. Casey declined to comment on whether other steel majors Nucor Corp., Gerdau Long Steel North America or Commercial Metals Co. had been contacted about joining the group since its formation at the start of the year.
The co-op—the first of its kind for rebar in the United States and Canada—works by linking up member fabricators, who make an initial equity investment in order to join, and member rebar suppliers. Casey projects the co-op will have 50 members within 24 months, but declined to comment on the number of members the group currently counts.
Suppliers benefit by getting access to new, independent customers, the ISA says, while fabricators benefit by receiving a financial incentive to buy from ISA-preferred suppliers in the form of a rebate, which is distributed to fabricators after they buy more than a certain tonnage threshold.
“(Fabricators) have the option of buying wherever they want, but because of our preferred-supplier status, which has a rebate attached to it, (we’re) more attractive to them,” Kevin Cornell, general manager at Salit Specialty Rebar, an ISA supplier member, told AMM.
At least one fabricator member confirmed its purchasing strategy had shifted as a result of joining the group.
“We have changed our buying patterns, we are moving our tonnage to the ISA vendors, and we’re just two months into the year,” said Burke Byer, president of Byer Steel, which is both a supplier and a fabricator of rebar.
But while some members say they’ve seen a shift since joining the fledgling group, others said the business changes have yet to be dramatic, particularly as they await an expected pick-up in activity in the spring when the construction market resumes after a winter lull.
“We’re kind of in that gray area between signing on and the bidding area, and seeing where this is going to go. It’s just a little early to tell,” said Cornell. “(But) we have great expectations and we think it’s going to be good for our business.”
ISA is Reported in American Metal Market Online
Click here to Link to AMM Article (for subscribers only).
Rebar fabricator co-op to leverage buys in bulk
Jan 23, 2013 | 04:41 PM | Samuel Frizell
NEW YORK — A group of U.S. and Canadian independent steel reinforcing bar fabricators has launched a steel purchasing cooperative aimed at leveraging purchases from steel suppliers and keeping small market players more competitive along the cost curve.
[Read more…] about ISA is Reported in American Metal Market Online
Rebar imports drop by half in December
From Nerds of Steel Blog:
“Rebar imports in December were almost half November’s, which was the main driver behind the overall drop. This was due to lower rebar imports from Turkey where November volumes of almost 60,000 tons fell to December’s 20,000 tons of import licenses. However, Turkish rebar imports are already showing a strong rebound in January, with January licenses reported up to January 15th already at 70,000 tons.”
Annual Shareholders' Meeting and Reception
Notice of Meeting
Monday, February 4, 2013
3:00 – 5:00 PM
Las Vegas Hilton
The First Annual Shareholders’ Meeting will be followed by a Reception, open to all ISA Members, Suppliers and prospective members (by invitation).
Interested in attending the ISA Reception? Click here to request an invitation.
World apparent steel use revised downward again in October 2012
From the Nerds of Steel blog:
After a downward revision in April this year, worldsteel made a further revision downward for world apparent steel use in 2012. The revision this time was from 3.6% in April 2012′s Short Range Outlook to 2.1% in the latest October 2012 version published last week. In addition, the forecast for growth in world apparent steel use in 2013 was also revised from 4.5% to 3.2%. That means that instead of ASU of 1,422MT in 2012 and 1,486MT in 2013, worldsteel is now forecasting 1,409MT in 2012 and 1,455MT in 2013 or 13MT and 31MT lower respectively.