The weekly U.S. rig count remained steady this week, according to Sept. 8 data from Baker Hughes, a GE Company. The number of active oil rigs declined by 3 to 756 rigs, while the active gas rig count rose 4 to 187 rigs. The miscellaneous rig count was unchanged at 1 rig. Compared to this […]
One of the reasons why the SMU Steel Summit Conference is successful and growing at a time when most conferences are not is due to the options we are given through the support of our sponsors and exhibitors. The cost to put on a three-day conference is truly staggering. Nonetheless, one of our goals has […]
SMU Steel Summit Attendees, Thank you again for registering for the 7th SMU Steel Summit Conference, which is now less than a week away. Here are some suggestions so that you may maximize your conference experience: Download and review the Steel Market Update Events App. We are already using the App and it will be […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot rolled coil prices (FOB Domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and […]
Steel shipments by Canadian service centers in July totaled 346,500 net tons, down 11.7 percent from the previous month, but up 8.7 percent from July 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,300 tons per day in July (a 20-day month), down from 17,800 tons per day […]
Total raw steel production for the month of June was 7,487,972 net tons, with 5,182,147 tons produced by electric arc furnaces (EAF) and 2,305,825 tons produced by blast furnaces. June raw steel production was 118,921 tons or 1.6 percent lower than the previous month, and 34,195 tons or 0.5 percent lower than the same month […]
Below is the latest data released by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through June 2017. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for June 2017 increased 0.3 percent […]
U.S. steel exports in June totaled 910,988 net tons (826,435 metric tons), down 9.5 percent over May, but up 12.3 percent from June 2016. Although down over last month, total June exports are in line with the average monthly level over the last few months. Back in May, total exports had climbed to 1,006,087 tons, […]
The weekly U.S. rig count took a slight dip, according to Aug. 4 data from oilfield services company Baker Hughes, Inc. The oil rig count declined by 1 to 765 rigs, while the gas rig count declined by 3 to 189 rigs, for a total of 954. The miscellaneous rig count was unchanged. Compared to […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot rolled coil prices (FOB Domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and […]
The following is a press release on steel exports from the American Institute for International Steel (AIIS) on July 27 2017: Falls Church, VA. July 27, 2017. Steel exports swelled 17.3 percent from April to May – and were up 25.2 percent from a year earlier – to surpass 1 million net tons. More than […]
Data from July 7, 2017, shows the U.S. rig count for the week was 950 rigs exploring for or developing oil or natural gas, reports oilfield services company Baker Hughes, Inc. This is down 2 rigs compared to last week, with oil rigs down 1 to 764 rigs, gas down 1 to 186 rigs, and […]
We’re in for a good year ahead, says popular economist Alan Beaulieu of ITR Economics, who will be a keynote speaker during Steel Market Update’s 2017 Steel Summit Aug. 28-30 at the Georgia International Convention Center in Atlanta. Previewing his remarks, ITR forecasts another six months of accelerating economic expansion for the U.S., followed by […]
Steel shipments by Canadian service centers in June totaled 392,600 net tons, down 5.4 percent from the previous month, but up 5.0 percent from June 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,800 tons per day in June (a 22-day month), down from 18,900 tons per day […]
Below is the latest data released by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through May 2017. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for May 2017 increased 5.5 percent […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot rolled coil prices (FOB Domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive this week for the second consecutive week, following a 10-week streak of being in negative territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous […]
Total raw steel production for the month of May was 7,606,893 net tons, with 5,168,112 tons produced by electric arc furnaces (EAF) and 2,438,781 tons produced by blast furnaces. May raw steel production was 231,724 tons or 3.1 percent higher than the previous month, but 86,653 tons or 1.1 percent lower than the same month last […]
Data from July 7, 2017, shows the U.S. rig count for the week was 952 rigs exploring for or developing oil or natural gas. The last time U.S. rig counts were this high was in early 2015, reports oilfield services company Baker Hughes Inc. This is up 12 rigs compared to last week, with oil […]
According to Baker Hughes data from June 30, 2017, the U.S. rig count for the week was 940 rigs exploring for or developing oil or natural gas. This is down 1 rig compared to last week, with oil rigs down 2 to 756 rigs, gas down up 1 to 184 rigs, and miscellaneous rigs unchanged […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot rolled coil prices (FOB Domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and […]
Last week, Steel Market Update (SMU) conducted an analysis of the flat rolled steel market trends. As part of that process, we asked the 100+ companies who responded to our inquiries if quotas or tariffs would be good or bad for their company. We found the majority of the mostly manufacturers and service centers responding […]
Domestic raw steel production declined slightly last week, according to the American Iron and Steel Institute in Washington. In the week ending June 24, raw steel production totaled 1,729,000 net tons, down 0.6 percent from the previous week and down 1.5 percent from the same week last year. Adjusted year-to-date production through totaled 43,353,000 net […]
According to Baker Hughes data from June 23, 2017, the US rig count for the week was 941 rigs exploring for or developing oil or natural gas. This is up 8 rigs compared to last week, with oil rigs up 11 to 758 rigs, gas down up 3 to 183 rigs, and miscellaneous rigs unchanged […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the ninth consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
Steel shipments by Canadian service centers in May totaled 415,000 net tons, up 14.5 percent from the previous month and up 6.8 percent from May 2016, reports the Metals Service Center Institute. On a daily rate basis, total shipments were 18,900 tons per day in May (a 22-day month), down from 19,100 tons per day […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot rolled coil prices (FOB Domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and […]
April 2017 steel exports totaled 857,582 net tons (777,986 metric tons), down 9.6 percent over March, but up 7.9 percent from April 2016. Last month, we saw the highest export level since November 2014. The total April export figure is below the three-month moving average (average of February 2017, March 2017 and April 2017), but […]
Apparent steel supply for the month of April totaled 9,132,068 net tons, according to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. While down over […]
U.S. raw steel production totaled 1,718,000 net tons for the week ending June 10, a decline of 2.1 percent from the same period last year, and down 1.8 percent from the previous week. The mill capacity utilization rate was 73.7 percent, down from 75.0 percent a week ago, estimates the American Iron & Steel Institute […]