SMU Price Momentum continues to reflect the strength of steel mills as we expect prices to continue to rise over the next 30 days. Our Price Momentum Indicator has been pointing toward higher prices since early December 2015 (6 months and counting). Although our Steel Buyers Sentiment Index took a hit in May for both […]
According to Baker Hughes data from May 27, 2016, the U.S rig count for the week was 404 rigs exploring for or developing oil or natural gas. This is unchanged compared to last week, with oil rigs down 2 to 316 rigs, gas rigs up 2 to 87 rigs, and miscellaneous rigs unchanged at 1 […]
The following calculation is used by Steel Market Update to identify the spread between world hot rolled export prices as determined by SteelBenchmarker and domestic (US) hot rolled prices as published by SMU. Steel Market Update compares the world hot rolled export price to which dollars are added for freight, handling, trader margin, etc. The number […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States indicated prices continue to rise albeit at a slightly slower pace than what we measured last week. MoMo has been positive (indicating higher prices) for the 21st consecutive week, following a 21 week negative streak. MoMo is a trailing […]
For the week ending May 21, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,756,000 net tons of raw steel, a 1.7 percent increase over the previous week and a 3.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 75.1 percent, up […]
Chinese steel trade data was recently released for the month of April 2016, providing updated data on iron ore imports, scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in April were 83,920,000 metric tons, a decrease of 2.2 percent from the previous month but an increase of 4.6 percent from […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive this week for the 20th consecutive week, following a 21 week negative streak. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil price movements against the […]
For the week ending May 14, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,727,000 net tons of raw steel, a 1.2 percent decrease over the previous week, but a 1.3 percent increase over the same week one year ago. The estimated capacity utilization rate is 73.9 percent, down […]
Canadian shipments for all steel products in the month of April were 372,800 net tons, a decrease of 4.9 percent from the month before and a decrease of 12.9 percent from April 2015. Inventories at the end of the month stood at 1,270,300 tons, up 6.9 percent from last month but down 20.7 percent from […]
March ferrous scrap exports totaled 1,096,231 net tons (994,485 metric tons) with Turkey, India, Mexico, Korea, and Taiwan being the top five countries receiving scrap from the United States. These five countries accounted for 73.5 percent of all scrap exports. Total March ferrous scrap exports were 3.6 percent lower than previous month. March figures were […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through March 2016. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for March 2016 decreased 21.6 percent […]
According to Baker Hughes data from May 13, 2016, the U.S rig count for the week was 406 rigs exploring for or developing oil or natural gas. This is a decrease of 9 rigs when compared to last week, with oil rigs down 10 to 318 rigs, gas rigs up 1 to 87 rigs, and […]
The following calculation is used by Steel Market Update to identify the spread between world hot rolled export prices as determined by SteelBenchmarker and domestic (US) hot rolled prices as published by SMU. Steel Market Update compares the world hot rolled export price to which dollars are added for freight, handling, trader margin, etc. The number […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive this week for the 19th consecutive week, following a 21 week negative streak. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil price movements against the […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of March 2016 was 8,716,178 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports and subtracting total US steel exports. March apparent […]
March steel exports totaled 775,270 net tons (703,314 metric tons), down 0.5 percent over February and down 13.5 percent from March 2015. Total March figures are below both the thee month moving average (3MMA, average of January 2016 through March 2016 figures) and the twelve month moving average (12MMA, average of April 2015 through March […]
For the week ending May 7, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,748,000 net tons of raw steel, a 2.2 percent increase over the previous week and a 2.6 percent increase over the same week one year ago. The estimated capacity utilization rate is 74.7 percent, up […]
According to Baker Hughes data from May 6, 2016, the U.S rig count for the week was 415 rigs exploring for or developing oil or natural gas. This is a decrease of 5 rigs when compared to last week, with oil rigs down 4 to 328 rigs, gas rigs down 1 to 86 rigs, and […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive this week for the 18th consecutive week, following a 21 week negative streak. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil price movements against the […]
For the week ending April 30, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,711,000 net tons of raw steel, a 1.6 percent increase over the previous week and a 3.8 percent increase over the same week one year ago. The estimated capacity utilization rate is 73.2 percent, up […]
If we could sum up the month of April in one word it would be, wow! We saw flat rolled steel prices jump by $90 per ton from the last week of March until the last week of April. Our HRC average for the month of April jumped by $87 per ton, while the CME […]
According to Baker Hughes data from April 29, 2016, the U.S rig count for the week was 420 rigs exploring for or developing oil or natural gas. This is a decrease of 11 rigs when compared to last week, with oil rigs down 11 to 332 rigs, gas rigs down 1 to 87 rigs, and […]
The following calculation is used by Steel Market Update to identify the spread between world hot rolled export prices as determined by SteelBenchmarker and domestic (US) hot rolled prices as published by SMU. Steel Market Update compares the world hot rolled export price to which dollars are added for freight, handling, trader margin, etc. The number […]
The American Iron & Steel Institute (AISI) recently reported final U.S. raw steel production estimates for the month of March 2016. The monthly estimates are different than the weekly estimates we report in our Tuesday issues; the AISI bases the monthly estimates on over 75 percent of the domestic mills reporting vs. only 50 percent […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive this week for the 17th consecutive week, following a 21 week negative streak. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil price movements against the […]
For the week ending April 23, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,684,000 net tons of raw steel, a 0.5 percent decrease over the previous week but a 2.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 72.0 percent, down […]
February ferrous scrap exports totaled 1,137,700 net tons (1,032,105 metric tons) with Turkey, India, Canada, Taiwan, and Korea being the top five countries receiving scrap from the United States. These five countries accounted for 66.6 percent of all scrap exports. Total February ferrous scrap exports were 87.3 percent higher than previous month. Despite the large […]
The following calculation is used by Steel Market Update to identify the spread between world hot rolled export prices as determined by SteelBenchmarker and domestic (US) hot rolled prices as published by SMU. Steel Market Update compares the world hot rolled export price to which dollars are added for freight, handling, trader margin, etc. The number […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive this week for the 15th consecutive week, following a 21 week negative streak. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil price movements against the […]
For the week ending April 11, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,656,000 net tons of raw steel, a 0.4 percent increase over the previous week and a 0.4 percent increase over the same week one year ago. The estimated capacity utilization rate is 70.8 percent, up […]