Steel Markets
Auto Sales Pace Softens in June
Written by Sandy Williams
July 4, 2016
Despite a 2.5 percent year-over-year increase in June, U.S. automotive sales were slower than the 4.0 percent expected by most analysts. WardsAuto reports sales totaled 1.5 million units last month but the seasonally adjusted annual rate was 16.6 million units, well below the 17.0 million in June 2015 and at the slowest sales pace of the past year.
The pace may have slowed but the automotive industry is still healthy and expected to exceed the 17 million plus SAAR predicted for this year.
“What we’re seeing in June car sales is what we’ve predicted for some time. The hefty year-over-year increases are narrowing, which is expected after this unprecedented long stretch of gains,” said AutoTrader.com analyst Michelle Krebs as quoted by the Detroit Free Press.
Truck sales, including CUVs, small vans, and SUVs, increased 6.7 percent in June. Within the segment large pickups gained 5.5 percent while small pickups surged 26.8 percent. Year-over-year sales of passenger cars fell 12.1 percent.
Ford and FCA sales increased 6.4 and 6.5 percent, respectively. General Motors sales dropped for the fifth consecutive month with June sales down 1.6 percent. Toyota sales also slipped last month, falling 5.6 percent.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Steady architecture billings signal improving conditions
The November ABI decreased month over month but was still the third-highest reading of the past two years.
Fitch warns more tariffs will pressure global commodity markets
“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.
Latin America’s steel industry grapples with declining demand, rising imports
With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.
CRU: Trump tariffs could stimulate steel demand
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.