Robert J. (Bob) Garino
Robert J. (Bob) Garino is director of commodities for the Institute of Scrap Recycling Industries. Headquartered in Washington, D.C., ISRI represents more than 1,600 companies that process, broker and consume such scrap commodities as metals, paper, plastics, glass, rubber, electronics and textiles. Bob has a Bachelor of Science degree from Monmouth University and has worked in market research, strategic planning and metal and non-metallic commodities research for Commodities Research Unit, Inco, NL Industries and the National Association of Recycling Industries that merged with the Institute of Scrap Iron and Steel to form ISRI in 1987. COMMODITIES UPDATE written by Bob Garino is a review of supply, demand and pricing activities in various commodity markets. Email address: bobgarino@isri.org
Email: bobgarino@isri.org
Commodities UpdateLink This | Email This | Comments (0) Volatile and sliding steel scrap prices dominate marketplace chatterFollowing last week’s payrolls report, many are thinking that the so-called V-shaped recovery may have lost its upward thrust. When it comes to consumer spending, fear of unemployment is almost as bad as actual joblessness… On more positive note, Monday’s Institute of Supply Management (ISM) Non-Manufacturing index came in better than the consensus expected, signaling... MoreLink This | Email This | Comments (0) In the recovering economy, commodity prices remain unpredictableThe third quarter ended this week, as did the U.S. government’s fiscal year with some projecting a deficit of some $1.5 trillion. Wall Street is expecting some big earnings to be announced in the weeks ahead, so we’re expecting the Dow and the S&P to react accordingly, despite this week’s heavy-duty selling. Will we soon see the Dow at 10,000? And what does that... MoreLink This | Email This | Comments (1) Recession is over but economic indicators remain mixedThis past week’s economic releases were generally constructive, highlighted by better-than-expected industrial production (IP), retail sales, and residential construction figures. Less favorable numbers were July business inventories that fell, along with a higher-than-expected producer price index (PPI) and consumer price index (CPI) numbers for August and lower-than-expected sales of... MoreLink This | Email This | Comments (2) Recession is over but steel prices are all over the mapIt’s been a not-so-busy week for major economic releases; also, most of the recent news has been generally positive.As reported by NAM, for example, of the 12 major reports that came out last week, seven were positive, four were negative (but improving) and “just one worsened” - and that would be the unemployment rate that hit 9.7% last month — a 26-year high. The... MoreLink This | Email This | Comments (0) Despite price escalation, metals markets remain weakBefore we forget: Have a great Labor Day holiday weekend…we’re outta here!But first, a look at ferrous commodities: We’re reminded that despite all the news of higher tags for hot-rolled steel sheet in coil for September/October delivery, the August average was $475/net ton, up $45 from July but still quite some distance from what steel mills are now expecting. As noted by... More |
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