Is U.S. Steal really back?

President Trump tweeted “U.S. Steel is back!” Let’s check on employment, import and productions how actually U.S. Steel industry is doing. Here are what we found.

U.S. Steel Import (25% Tariff Executive Order in March)

2018 Apr  2.9
2018 May 2.4
2018 Jun  1.8 (↓25% from previous month, ↓40% from last year same period)
(unit: million tons)

U.S. Steel Shipments

2018 Apr   7.660
2018 May  7.798
2018 Jun   8.056  (↑3.3% form previous month)
(unit: million tons)

source: American Iron and Steel Institute

Iron and Steel Mills and Ferroalloy Manufacturing Employment

2017 Jun  373.4

2018 Mar  379.8
2018 Apr  380.7
2018 May 380.6
2018 Jun  383.5  (↑0.7% form previous month)
(unit: thousands)

Iron and Steel Mills and Ferroalloy Manufacturing Unemployment Rate:

2018 Jun  4.4%

2018 Mar  2.2%
2018 Apr  3.4%
2018 May 4.8%
2018 Jun  2.6%  (↓46% form previous month, ↓41% from last year same period)

source: Bureau of Labor Statistics

So far all data seems to be positive after the import steel tariff executive order in March. Import reduced, shipments increased, employment increased, and unemployment decreased. We don’t see any negative numbers yet but keep eyes on trends.

 

Trump Tracker: https://hcw68.app.goo.gl/p6u5

Leave a Reply

Your email address will not be published. Required fields are marked *