Steel Products
SMU Survey: New Foreign Orders in Decline
Written by John Packard
February 25, 2013
Something to make the domestic mills a wee bit happier – but they won’t see the results for a few months. According to the results from last week’s survey, both manufacturing companies and service centers reported the lowest percentage of interest in placing foreign steel orders since we began asking the question. For manufacturing companies, almost half of which reported interest or actually placing foreign steel orders back in October (48 percent the first week of October 2012), this last week, 17 percent this last week claimed to have entered new foreign orders for future delivery. Service centers which peaked at 27 percent the first week of November fell to 11 percent this past week.
John Packard
Read more from John PackardLatest in Steel Products
US rig count up, Canada declines
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.
US, offshore CRC prices continue to diverge
US cold-rolled (CR) coil prices declined again this week, slipping for a third straight week. Most offshore markets did the opposite, moving higher this week.
S232 lifts EU HR price over US, Asian HR still well behind
Domestic hot-rolled coil prices were flat this week after dropping for four straight weeks. Most offshore markets bucked the trend and gained ground.
SMU Steel Demand Index dips into contraction
SMU’s Steel Demand Index has moved into contraction, according to late April indicators. The slowdown comes in response to growing tariff uncertainty after the index reached a four-year high in late February.
Nucor selects Fives Group for new galv line at CSI
Nucor Corp. has tapped Fives Group as its partner in designing and manufacturing the new continuous galvanizing line being added at its California Steel Industries (CSI) joint venture in Fontana, Calif.