Davis Index – Daily metal prices, scrap prices & global metal market

The conundrum and changing the calculus: Shapiro

How high do interest rates need to go, and how long to cool the economy and inflation while not causing a hard landing? The Fed is trying to navigate these very tricky waters.     Paul Krugman writes, “I sometimes think of the Fed as trying to operate heavy machinery in a dark room — […]

Bullish on America in 2023: Shapiro

During periods of inflation, interest rates typically go up and the economy slows down. People lose their jobs and GDP drops. Everyone calls for tax cuts and stimulus programs. But the government’s reaction to the pandemic was to front-load the stimulus programs. For over two years, we have had a good economy with a hot […]

The trend is your friend: Shapiro

“We have to get supply and demand back into balance. And the way we do that is by slowing the economy.”  -Jerome Powell     Powell and most Fed board members have stuck to the same mantra: We are in a war against inflation. They will keep raising interest rates to bring inflation down and […]

New price index: Turkey rebar exports

Commodity: Metals Region: Turkey Subscriber notice type: New Prices Unit: $/mt Schedule: Weekly   Davis Index is excited to announce the addition of weekly Turkey rebar 12-32mm fob export prices to its index. These prices will be indexed every Thursday.   If you are interested in being a contributor to these pricing indexes, please communicate […]

Inflation is cooling and so is the economy: Shapiro

The more I research our pandemic-era economics the more I realize that the old rules no longer seem to apply. We are living in VUCA times: volatility, uncertainty, complexity, ambiguity. Developing a strategy to cope with this takes a lot of patience and resilience.      Factors plaguing economic growth in 2020 and 2021 included supply […]

Changes to plastic and NF scrap specs: ISRI

The Board of Directors at the Institute of Scrap Recycling Industries (ISRI) plan to discuss changes to plastic and nonferrous scrap guidelines during their Summer Board Meeting in Washington, DC on Jul 14.    The changes in plastic specifications were approved by the ISRI Plastics Division on Jun 14 while the changes to nonferrous scrap guidelines […]

EU Al foil production trends flat in 2020: EAFA

European deliveries of aluminum foil totaled 930,700mt in 2020, slightly lower than 933,100mt in 2019, according to the European Aluminium Foil Association (EAFA). Bruno Rea, president, EAFA, said in a statement on Tuesday that the foil sector is doing better than some other parts of the aluminum industry. He expects a steady recovery in 2021 […]

US imposes AD on Belgian, Italian CTL plates

The US Department of Commerce has levied a final antidumping duty (AD) on cut-to-length (CTL) steel plates from Belgium and Italy for the period of review (POR) from May 1, 2018, to April 30, 2019. Commerce indicated in a notification on Tuesday that exporters from both countries had sold CTL plates at below normal value […]

Choosing between inflation and recession: Shapiro

The current pressing economic conundrum is how to reduce inflation while avoiding a recession. What a choice. I don’t want inflation or a recession. The Federal Reserve is tightening money and raising interest rates while the economy slows, unemployment rises, and consumer spending goes down. This is a painful cure for inflation.     Piper Sandler, […]

Ann Joo projects stronger steel exports

Steel demand in Malaysia is expected to fluctuate throughout 2021 given the impact of the COVID-19 pandemic, according to Malaysian steel producer Ann Joo. The steelmaker, however, forecasted a stronger market for exports in its earnings report for 2020. The company plans to continue focusing on exports to China and other Southeast Asian markets this […]