Home / News / Penn Stainless Post – July 2022

Penn Stainless Post – July 2022

 

Yesterday, we inadvertently sent out the Penn Stainless Post with May’s surcharges and content. The correct surcharge chart and other details are included in this email.
Please accept our apologies for this oversight.

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

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

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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

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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

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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