Manufacturing PMI® at 56.1%

May 2022 Manufacturing
ISM® Report On Business®

Source: Institute for Supply Management®

New orders, production and backlogs growing at faster rates; employment contracting; supplier deliveries slowing at a slower rate; raw materials inventories growing at a faster rate; customers’ inventories too low; prices increasing at a slower rate; exports growing at a faster rate; imports contracting; record-long lead times for capital expenditures.

View the full May ISM® Report On Business® here.

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April 4, 2022 – June 1, 2022

NICKEL SURCHARGES, June 1-30 (flat-rolled)

EXCESS INVENTORY

As we continue to refine our inventory, we are offering additional stainless steel materials at discounted prices. Some of the items available include: round bar, square bar, hex bar, structural tube, flat bar, seamless and welded pipe, seamless and welded tube and flat rolled products. Please click on the link for a complete listing: Penn Stainless Discounted Inventory

INDUSTRY NEWS

Stainless Steel MMI: Stainless Prices Holding Strong
(May 9, 2022)  Source: www.agmetalminer.com

U.S. Temporarily Suspends Section 232 Tariffs on Ukrainian Steel​

(May 10, 2022)  Source: www.aist.org

Quotas may keep EU steel exports to US low
(May 12, 2022)  Source: www.argusmedia.com/en/news

Raw Steels MMI: Steel Prices Fall As Demand Concerns Mount
(May 17, 2022)  Source: www.agmetalminer.com

Construction MMI: Construction Spending Moves in Opposite Directions
(May 17, 2022)  Source: www.agmetalminer.com

Pennsylvania Signs On to Hydrogen Hub Effort

(May 17, 2022)  Source: www.aist.org

The Big Picture Report on Business Conditions for U.S. Manufacturers (May 2022)​
(May 17, 2022)  Source: www.argusmedia.com/en/news

The Future of Steel is Green. And, Perhaps, Nuclear.
(May 18, 2022)  Source: www.aist.org

US-led Asia Trade Pact Eyes Clean Energy, Supply Chains
(May 23, 2022)  Source: www.argusmedia.com/en/news

US Steel Production Trended Lower Through April

(May 24, 2022)  Source: www.argusmedia.com/en/news

China Steel Prices Rise As Other Key Markets Stabilise

(May 27, 2022)  Source: www.argusmedia.com/en/news

US HRC: Prices Fall, Market Quiet

(May 31, 2022)  Source: www.argusmedia.com/en/news

U.S. Swaps Tariffs for Quotas on U.K. Steel Imports
(June 2, 2022)  Source: www.aist.org

Stainless Steel – MetalMiner Prices
(Daily)  Source: www.agmetalminer.com

Nickel News Brief
(Daily)  Source: www.estainlesssteel.com

Penn Stainless Products
190 Kelly Road – Quakertown, PA 18951
102 McQuiston Drive – Jackson Center, PA 16133
Toll Free: 1-800-222-6144 – Phone: 215-536-3053
www.pennstainless.com