U.S. steel exports in June increased 20 percent from the prior month’s 24-year low. Now standing at 423,000 tons, June exports are 29 percent lower than levels one year prior, according to recent U.S. Department of Commerce data. The 2020 monthly average for exports has decreased to 522,000 tons, whereas the first six months of […]
We have passed through 700 registered attendees for this year’s SMU Virtual Steel Summit Conference. Activity has been high and we are confident we will reach our 800+ registered attendee goal. We will be the largest steel conference (live or virtual) in North America this calendar year. Those who have seen our platform are excited. […]
We have passed through 700 registered attendees for this year’s SMU Virtual Steel Summit Conference. Activity has been high and we are confident we will reach our 800+ registered attendee goal. We will be the largest steel conference (live or virtual) in North America this calendar year. Those who have seen our platform are excited. […]
Steel Market Update’s check of the market this week shows hot rolled offers typically in the $460-$480 range. But sources tell us actual transactions are occurring anywhere from $480 down to $400, depending on volumes and other considerations. Thus, SMU puts the current benchmark price for hot rolled at $440 per ton, down $10 from […]
Steel Market Update’s check of the market this week shows flat rolled steel prices firming up a bit as demand slowly recovers from the coronavirus disruptions. SMU puts the current benchmark price for hot rolled at $465 per ton, up from $440 last week. SMU’s Price Momentum Indicators remain at Neutral, though the market may […]
June heating and cooling equipment shipments totaled 2.28 million units, up 6.8 percent from the same month one year ago, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). This is the highest monthly shipment level in SMU’s 12+ year limited history, surpassing the previous monthly high in June 2018 at 2.27 […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
Recently released Census data shows final June steel imports totaled 1.40 million net tons, down 22 percent from May and down 50 percent from March, according to the U.S. Department of Commerce. This is the lowest monthly import level since November 2009 when total imports were 1.38 million tons. This final June figure is just […]
Steel Market Update’s check of the market over the past two days shows that nearly 70 percent of steel buyers believe prices are near a bottom, and the numbers support that view, showing little variation from last week. SMU puts the benchmark average price for hot rolled steel at $450 per ton, unchanged from last […]
Steel prices declined throughout the month of July, although mills announced price increases in the third week of the month. As of last week, Steel Market Update’s hot rolled price average had declined to $450 per ton. Scrap prices declined from June to July by $18-48 per ton. SMU adjusted its Price Momentum Indicator from Lower […]
The Conference Board Consumer Confidence Index decreased in July, a decline from June but an improvement over recent months. The composite index now stands at 92.6, down from 98.3 in June, and down from 135.8 percent one year prior. “Consumer Confidence declined in July following a large gain in June,” said Lynn Franco, Senior Director […]
U.S. production of crude oil decreased in May by 1.99 million barrels per day (b/d), the largest monthly decrease since at least January 1980, according to the latest data from the U.S. Energy Information Administration. May marks the sixth consecutive monthly decrease in crude oil production and is the third month since March when the […]
Active U.S and Canadian gas and oil rigs were flat to up this past week, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs remained steady at 251, […]
U.S. raw steel production rose 0.7 percent to 5,453,000 net tons in June, as reported last week by the American Iron and Steel Institute in Washington. June production was well below the 2020 average of 6,687,000 tons, and down 31.7 percent compared to the same month last year. June production was 38,000 tons higher than […]
The deadline to submit your nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association, has been extended through Aug. 5. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. There’s still plenty of time to nominate the young stars within […]
Steel Market Update’s check of the market this week shows flat rolled and plate steel prices falling by a further $10, taking the benchmark hot rolled price down to $450 per ton. Most respondents expressed doubts that the price increase announced last week by the integrated mills will gain any traction, especially since the minimills […]
Recently released preliminary steel import data shows June imports totaling 1.39 million net tons, according to the U.S. Department of Commerce. This is down 410,000 tons or 23 percent compared to final May imports. Taking semifinished products out of the picture, imports of finished products were down 12 percent in June over the previous month; […]
Here is a listing of the companies registered for the SMU Steel Summit 2020 Virtual Conference as of last week. Note that those companies with an * after their name means more than one person is attending. If your company is missing, or if you have questions about your registration, please contact Events@SteelMarketUpdate.com. You can […]
Here is a listing of the companies registered for the SMU Steel Summit 2020 Virtual Conference as of last week. Note that those companies with an * after their name means more than one person is attending. If your company is missing, or if you have questions about your registration, please contact Events@SteelMarketUpdate.com. You can […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
Below is the agenda for the 2020 SMU Steel Summit Conference. For more information and to register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit. Rising from the Ashes All timings are in EST and all Agenda items will be available on-demand as well as live Monday, August 24, 2020 08:00 AM How to Get the Most from the Virtual Conference: […]
Below is the agenda for the 2020 SMU Steel Summit Conference. For more information and to register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit. Rising from the Ashes All timings are in EST and all Agenda items will be available on-demand as well as live Monday, August 24, 2020 08:00 AM How to Get the Most from the Virtual Conference: […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices have gained an even greater advantage over foreign imports, according to SMU and CRU indices. After shrinking in May, the price gap between domestic HRC compared to German, Italian, and East/Southeast Asian imports has widened over the last few weeks. The […]
The Aug. 1 deadline is just about a week away to nominate the young up-and-comers in your organization for the second annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. As an added incentive, qualifying nominees will be given free admission to this year’s SMU Steel Summit Virtual Conference. The award is designed […]
Hot roll steel held its own this week, remaining at an average price of $460 per ton. Cold rolled, galvanized and Galvalume prices slipped by a further $5-10 per ton, however, based on Steel Market Update’s latest check of the market. SMU will leave its price momentum indicators unchanged—pointing lower for HR, CR and galv—until […]
The multi-month decline in active U.S and Canadian gas and oil rigs seems to have flattened out, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs fell by […]
Recently released license data shows June steel imports at 2.01 million net tons, up 12 percent from May, according to the U.S. Department of Commerce. Finished steel imports in June are currently at 1.47 million tons, down 3 percent from the previous month. Imports of semifinished products (mostly slabs) are at 540,000 tons for June, […]
Nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association, close on Aug. 1. There’s still plenty of time to make your nominations! The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. And every qualifying nominee will be given a free place at […]
Flat rolled and plate steel prices continued to slide this week, down by $5 to $15 per ton depending on the product, reflecting the lower scrap prices and uneven demand in July. Steel Market Update’s Price Momentum Index continues to point toward lower prices for hot rolled, cold rolled and galvanized in the next 30 […]
Strong demand in China and easing of coronavirus restrictions in various parts of the world are lending support to global raw materials prices. Ferrous scrap prices are the notable exception as supplies have increased at a greater rate then demand, sending prices for both prime and obsolete grades downward. Table 1 summarizes the price changes […]