Association News

Metalforming companies forecast little change in economic activity for the first quarter of 2023, according to the January 2023 Business Conditions Report by the Precision Metalforming Association.

Net shipments of aluminum sheet and plate in the U.S. totaled 705.1 million pounds in December, down 5.4 percent compared with the same month in 2021, the Aluminum Association reported. Compared with the prior month, shipments were down 5.2 percent.

The National Association of Manufacturers released its Manufacturers’ Outlook Survey for the fourth quarter of 2022. It illustrates manufacturers’ concerns around a challenging economic environment characterized by inflation, supply chain disruption and the workforce crisis. It also demonstrates the consequences of Congress’s continued inaction on key manufacturing priorities. NAM conducted the survey from Nov. 29 to Dec. 13, 2022.

Shipments of steel and aluminum products from North American service centers were down across the board in the final Metals Activity Report of 2022 from the Metals Service Center Institute, Rolling Meadows, Ill.

The U.S. Department of Transportation’s Federal Highway Administration announced the first round of Large Bridge Project Grants from President Biden’s Bipartisan Infrastructure Law’s competitive Bridge Investment Program. The program is one piece of the Administration’s largest dedicated investment in highway bridges since the construction of the Interstate highway system, with nearly $40 billion over five years that will help repair or rebuild 10 of the most economically significant bridges in the country along with thousands of bridges across the country.

Economic activity in the manufacturing sector contracted in December for the second consecutive month. The PMI in December was 48.4, a decline of 0.6 percentage points from the November reading, the Institute for Supply Management reported.

Aluminum demand in the U.S. and Canada totaled 2.3 billion pounds in October, an increase of 7.3 percent over the same month in 2021, the Aluminum Association reported. Through the first 10 months of the year, aluminum demand was up 6.4 percent to 23.4 billion pounds.

Global steel production in November totaled 139.1 million tons, a 2.6 percent decrease compared with the same month in 2021, the Brussels-based World Steel Association reported. For the year to date, production is down 3.7 percent to 1.69 billion tons.

The U.S. imported 2 million tons of total steel and 1.76 million tons of finished steel in November, the American Iron and Steel Institute reported. Total imports were down 17 percent and finished imports were down 10.7 percent compared with the previous month.

Metalforming companies are slightly more optimistic about business conditions heading into 2023, the Precision Metalforming Association reported in its latest Business Conditions Report.