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Industrial Markets Look A Little Better For 2010

Industrial Information Resources' 2010 Global Outlook  forecasts a slight increase in 2010 project spending for capital and maintenance projects from last year. U.S. spending will rise to slightly more than $219 billion, up from about $217 billion in 2009, while Canadian project spending will rise to an estimated $81 billion from about $77 billion this year, according to Michael Bergen, Industrial Info's senior vice president of Marketing and Forecast Products.

Speaking at Industrial Info's "2010 Industrial Market Outlook" conference on Nov. 10, Bergen noted that since the beginning of 2009, a sharp decline in industrial inventories across a variety of industries has occurred, which Bergen said could be a prelude to inventory rebuilds, meaning increased near-term spending. Capacity utilization and new orders for durable goods have increased this year, along with consumer confidence. The U.S. government stimulus spending, while slow to be disseminated in 2009, is starting to lead to new capital and maintenance decisions by corporate leaders for 2010, he added.

Industrial Info's North American Industrial Database shows that in the U.S. and Canada, 2,835 capital projects with a start date of 2009, representing a total investment value (TIV) of $283 billion, were placed on hold or cancelled outright this year, according to Industrial Info President and CEO Ed Lewis. Another 3,633 capital projects in North America were delayed and moved out to 2010 or beyond, he said, noting that these projects represented $1.2 trillion in capital spending. Industrial Info's North American Project Spending Index for October was down almost 32% compared to year-earlier spending levels.

However, the news wasn't all bleak, Lewis told the audience. Since the start of 2009, Industrial Info has identified 6,080 new North American capital projects, representing a TIV of $350.9 billion.

This Just In -- Canada Imposes Penalties On China OCTG
Steel Business Briefing reported this morning that Canada has decided to impose duties and countervailing duties of up to 182% on Chinese OCTG imports. This follows on the heels of a similar announcement by the U.S. International Trade Commission on Nov. 4.

Chinese Pipe Maker Plans $1 Billion OCTG Plant In Texas
Steel Business Briefing also reports that Tianjin Pipe Co. is in the final stages of obtaining permits for a $1 billion seamless minimill and pipe works in Gregory, TX, near Corpus Christi, to be operated by its American subsidiary TPCO America Corp. It is hoping to break ground by mid-2010.

Copper Pipe & Tube Are Latest ITC Target
The  U.S. International Trade Commission (ITC)  last week determined that there is a reasonable indication that a U.S. industry is materially injured or threatened with material injury by reason of imports of seamless refined copper pipe and tube from China and Mexico that are allegedly sold in the U.S. at less than fair value. As a result, the U.S. Department of Commerce will continue to conduct its antidumping duty investigations on imports of this product from China and Mexico, with its preliminary determinations due on or about March 9, 2010.

"Can't live with 'em, can't live without em." We've all heard that refrain from many squabbling couples. It applies equally well to the contentious relationship between the U.S. and China . Despite our many geopolitical differences, each has a big stake in the others' economic prosperity. This analysis from the brainiacs at Wharton offers some keen insight.

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Tech Tip #35 by Gregg Marshall
To help you make the most of the Digital Age.

Connecting to People with LinkedIn

Gregg Marshall, CPMR, CSP, is president of Rep Connection Inc. He can be reached by e-mail at gmarshall@repconnection.com, or visit his LinkedIn profile at http://www.linkedin.com/in/greggmarshall.

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