Steel Markets
Auto Sales Decline in June
Written by Sandy Williams
July 5, 2017
Auto sales took a dive in June with the top three American automakers reporting sliding sales and foreign automakers reporting mixed results. Ford Motor Co. sales fell 5.1 percent year-over-year, while GM sales slipped 4.7 percent. FCA USA sales plunged 7 percent, in part due to a planned reduction in sales to its rental operation.
In the foreign segment, Hyundai sales declined more than 19 percent and Mazda sales by 14.7 percent while Volkswagen and Subaru made gains of 15 percent and 11.7 percent, respectively.
Sales are expected to decline more than 2 percent for the month; Edmunds.com projects a drop of 2.3 percent and Kelley Blue Book 3.6 percent. Wards Auto predicts total sales for the month should come in at 1.46 million.
Honda, up 0.8 percent, described the automotive market in June as “catching its breath.”
“The auto industry has cooled off compared to last year’s record-breaking pace,” said Jack Hollis, group vice president and general manager, Toyota division.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
CRU: Sheet import demand softens as domestic price gains have slowed
US domestic sheet price gains have begun to slow as previously pulled-forward demand has led to a decline in orders.
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]