New South Supply | June 2017 Newsletter
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June 2017 Newsletter

June 2017 Newsletter

The second quarter has seen record rain in most of our markets thereby depressing sales. As I compose this letter in late June the forecast for Greenville, SC is dry for the entire last week of the month. I hope the forecasters are correct. I was on sales calls in Georgia last week and most jobsites were shut down or severely curtailed. The demand is there; we just need the weather to cooperate.

Dear Friends,

The second quarter has seen record rain in most of our markets thereby depressing sales. As I compose this letter in late June the forecast for Greenville, SC is dry for the entire last week of the month. I hope the forecasters are correct. I was on sales calls in Georgia last week and most jobsites were shut down or severely curtailed. The demand is there; we just need the weather to cooperate.

The weather and some newly imposed tariffs have combined to keep many price increases from being enacted of late. See below for more info.

Price Updates
    • Most manufacturers of construction products we distribute held the line on prices in June and few announced price increases. The price for scrap steel on US metal exchanges was basically unchanged in June and the price for crude oil has fallen dramatically in recent weeks due to the worldwide glut of oil. With raw material costs being unchanged at this time there is little pressure for manufacturers to increase prices.

 

    • Domestic rebar millsin the southeast and eastern US have not changed prices for two consecutive months and domestic mills are expected to hold the line on prices in July; however, by August there will be little availability of imported rebar in the southeastern US and most analysts believe that domestic mills will increase prices in August due to the limited availability of imported rebar.

 

    • Imported rebar prices for June were approximately 4% higher than in May and July orders will be 3 to 5% higher than in June. Several orders of imported rebar were delivered at ports in the southeast the first week in June and there are a few more orders which will deliver in early July. Due to the tariffs imposed in May on most foreign mills and the pending Section 232 investigation launched by the Trump administration against all imported steel products from all nations, brokers have not placed order with foreign mills and are not expected to in the near term.

 

    • Owens Corning announced they will increase prices on July 5th by 6% on their light duty and granulated Thermafiber insulation materials. Roxul announced a price increase of 3% on their light density batt commercial and residential effective July 3rd.

 

    • Polyethylene resin manufacturers were unable to push through a resin increase in June and none have announced a price increase for July; therefore, polyethylene sheeting manufacturers have indicated they will hold prices at current levels through July.

 

    • The price for SYP dimensional lumber and plywood has decreased over the past several weeks and is now approximately 7% lower than at in mid-May. The price decrease is due to less than expected demand in June, due to the near record rainfall in the southeast in late May and June. Most analysts believe that the market is at or near the bottom and that with drier weather in the coming weeks demand will increase and lumber prices will begin to increase. If you have any projects to buy out requiring SYP lumber, it would be an opportune time to buy out these jobs before prices move up in July.

 

    • R Max announced on May 30th that they will increase prices on July 2nd between 8 and 10% on their entire line of polyisocyanurate insulation products. They also announced a $.10/sf price increase for any insulations they produce which have a coated glass facer.

 

    • Despite the price of scrap steel being basically unchanged in June, several wire rod manufacturers, both domestic and foreign, announced a $20/ton price increase for July. Most analysts do not believe the price increase will hold, as they do not believe there is enough demand to justify a price increase. If wire rod manufacturers are able to get the July price increase, in all likelihood concrete reinforcing wire mesh mills will increase prices by August 1st.

 

    • The producer price index (PPI) for final demand in May, not seasonally adjusted, increased 0.1% from April and 2.4% year-over-year (y/y) from May 2016, the Bureau of Labor Statistics (BLS) reported on Tuesday. AGC posted tables and an explanation focusing on construction prices and costs.

 

Click here for the latest update on the construction economy from Ken Simonson, the chief economist of the AGC.

Featured Manufacturers

Euclid

Maker of chemicals and aggregates for the concrete industry

euclidad

SpecChem

Quality construction chemicals for the concrete industry

SpecChem

Right Pointe

America’s Premier Provider of Quality Specialty Products for Concrete Construction

Right Pointe
Associate Profile

Jack Parker

 

Our Associate profile this month is of Jack Parker, a warehouse/rebar fabrication Associate at our W. Columbia, SC branch. Jack was born in Columbia and graduated from Mid Carolina High School in Prosperity, SC. He then attended Midlands Technical College where he studied computer science and business management. He is married and he and his wife, Angie, have five children. Before joining us Jack worked for UPS, Amazon, and the Wil Lou Gray Opportunity School. Jack always has a great attitude and he has been a welcome addition to our W. Columbia team.

Our management article this month is Five Ways to Detect a Malicious Phishing Scam. With all of the email hacking and ransomware attacks of late we thought this article was timely and helpful.

Management

JUNE’S MANAGEMENT ARTICLE

 

Five ways to detect a malicious ‘phishing’ email
By Mark Brunelli

For as long as there’s been email, there’s been email scams. At least since the time email first started gaining widespread popularity in the 1990s, phishing scams have been showing up in email accounts. They’re called ‘phishing’ emails because the cybercriminals who send them are fishing for victims.

These fraudulent emails, which may appear to come from a legitimate company or even a personal acquaintance, are designed to trick people into giving up personal information, such as credit card and social security numbers. They may also be designed to scam unwitting victims into opening a harmful attachment or clicking a link that unleashes ransomware or some other type of malicious computer virus.

Back in the early days of the internet, phishing emails were full of typos, and laden with obvious clues—appeals from faraway princes or rich relatives you never knew you had. These were very easy to spot. But cybercriminals have upped their game since then. For example, some cybercriminals go to great lengths to match the branding, color schemes and logos associated with the companies they are trying to impersonate.

Phishing email scams generally fall into one of these categories:

  • Traditional phishing attack
    The traditional phishing attack casts a wide net and attempts to trick as many people as possible. A classic example of this is the Nigerian prince advance-fee scam.

 

  • Spear phishing
    Spear phishing
    attacks are designed to target a specific individual or small group of individuals. For example, a spear phishing attack my use information about a particular restaurant or small business to target one or more employees at that business. Or it could look like an email from a friend.

 

  • Whaling
    Whaling 
    attacks, which have become increasingly popular in recent years, are targeted at high-profile victims like C-level executives and their teams. A typical whaling email may look like it was sent from the CEO of your company. But it’s really a fake designed to get you to share valuable information about the company.

 

Protect yourself from phishing scams
Phishing emails may be more difficult to identify these days, but there are some important steps you can take to avoid becoming a victim. If you answer ‘yes’ to any of the questions below, there’s a very good chance that you’re looking at a phishing email.

  1. Does the message ask for personal information?
    Always remember that reputable businesses do not ask for personal information – such as social security and credit card numbers – via email.
  2.  

  3. Does the offer seem too good to be real?
    If it seems too good to be true, it’s a fake. Beware of emails offering big rewards – vacations, cash prizes, etc. – for little effort.
  4.  

  5. Does the salutation look odd?
    Reputable companies will use your name in the salutation – as opposed to “valued customer” or “to whom it may concern.”
  6.  

  7. Does the email have mismatched URLs?
    If you receive an email from an organization that includes an HTML link in it, hover your mouse over the link without clicking and you should see the full URL appear. If the URL does not include the organization’s exact name, or if it looks suspicious in any other way, delete it because it’s probably a phishing email. Also, you should only visit websites that begin with ‘https’ because the ‘s’ at the end indicates advanced security measures. Websites that begin with “http” are not as secure.
  8.  

  9. Does it give you a suspicious feeling?
    Trust your instincts when it comes to email. If you catch yourself wondering whether it’s legitimate, and your instinct is to ignore and delete it—then pay attention to that gut check.

In closing let’s hope the rain has finally let up for a while and we can all get back to work. And, as always, thank you for your business.

Best regards,

Jim Sobeck
President 864-263-4377
jim.sobeck@newsouthsupply.com
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Author of The Real Business 101: Lessons From the Trenches
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