Apparent steel supply for July was up slightly compared to the same month one year ago by 1.53 percent. This is due to a 4.60 percent increase in domestic shipments, which was offset by a decrease in both total steel imports and finished steel imports, down 9.24 percent and 9.92 percent respectively. The net trade […]
July ferrous scrap exports totaled 1,203,282 metric tons (1,326,390 net tons) with Turkey, Taiwan, China, Mexico, and Canada being the top five importing countries of U.S. scrap. Of the higher ranking countries in the table below, there was month-over-month increase in exports going to Turkey, China, Mexico, Canada, and Indonesia over the June figures, but […]
According to Baker Hughes data from September 6th, 2013, the U.S rig count for this week is 1,767 rigs exploring for or developing oil or natural gas. This count is a decrease of 9 rigs when compared to last week, with oil rigs down 23 to 1,365 rigs, gas rigs up 14 to 394 rigs, […]
The Global PMI composite index increased to 51.7 for the month of August, up from the 50.8 reading in July. This slight yet meaningful increase marks the eighth consecutive month of expansion in the manufacturing sector. Manufacturing production increased for the tenth consecutive month, with the rate of growth at the highest level recorded since […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained in positive territory this week for the 14th consecutive week. MoMo, a trailing indicator, is based upon the current hot rolled coil price weighed against the previous 12 week average spot price as recorded by Steel Market Update. MoMo […]
The American Iron & Steel Institute (AISI) reported estimated raw steel production at 1,871,000 net tons for the week ending July 27, 2013. With outages and maintenance issues, production declined through August to a high of 1,888,000 net tons of raw steel in the week ending August 3, and dropping down to 1,856,000 net tons […]
For the week ending August 31, 2013, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,856,000 net tons of raw steel, a 0.3 percent decrease over the previous week and a 2.2 decrease over the same week one year ago. The estimated capacity utilization rate is 77.5 percent, down […]
According to Baker Hughes data from August 30th, 2013, the U.S rig count for this week is 1,776 rigs exploring for or developing oil or natural gas. This number is unchanged when compared to last week, with oil rigs up 6 to 1,388 rigs, gas rigs down 7 to 380 rigs, and miscellaneous rigs up […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained in positive territory this week for the 13th consecutive week. MoMo, a trailing indicator, is based upon the current hot rolled coil price weighed against the previous 12 week average spot price as recorded by Steel Market Update. MoMo […]
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of July 2013. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates. Total raw steel production for the […]
For the week ending August 24, 2013, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,861,000 net tons of raw steel, a 0.9 percent decrease over the previous week and a 1.9 decrease over the same week one year ago. The estimated capacity utilization rate is 77.7 percent, down […]
According to Baker Hughes data from August 23rd, 2013, the U.S rig count for this week is 1,776 rigs exploring for or developing oil or natural gas. This number represents a decrease of 15 rigs compared to last week, with oil rigs down 15 to 1,382 rigs, gas rigs down 1 to 387 rigs, and […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained in positive territory this week for the 12th consecutive week. MoMo, a trailing indicator, is based upon the current hot rolled coil price weighed against the previous 12 week average spot price as recorded by Steel Market Update. MoMo was […]
Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for June 2013 decreased 6.5 percent, to 330,948 units, down from 354,140 units shipped in June 2012. Residential electric storage water heater shipments decreased 9.5 percent in June 2013, to 307,959 units, down from 340,402 units shipped in June 2012. For the year-to-date, […]
For the week ending August 17, 2013, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,878,000 net tons of raw steel, a 0.9 percent increase over the previous week but a 1.0 decrease over the same week one year ago. The estimated capacity utilization rate is 78.4 percent, up […]
Chinese imports of iron ore in July were 73,140,000 metric tons, an increase of 17.4 percent from the previous month and an increase of 26.4 percent from July 2012. Year to date iron ore imports are at 457,230,000 MT through June. July imports of steel scrap were 280,000 MT, down 26.3 percent from June and […]
According to Baker Hughes data from August 16th, 2013, the U.S rig count for this week is 1,791 rigs exploring for or developing oil or natural gas. This number represents an increase of 13 rigs compared to last week, with oil rigs up 12 to 1,397 rigs, gas rigs up 2 to 388 rigs, and […]
Canadian shipments for all steel products in the month of July were 459,400 net tons, an increase of 1.3 percent from the month before but a decrease of 2.5 percent from July 2012. Inventory at the end of the month stood at 1,462,600 tons, a decrease of 1.5 percent from last month and a decrease […]
Prepainted flat rolled imports declined on a month-over-month basis on all products with the exception of prepainted cold-rolled sheet and strip. Compared to the same month one year ago, prepainted imports increased for galvanized and electro-galvanized, but decreased for cold rolled sheet and strip. As you can see by our table below – prepainted cold […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained in positive territory this week for the 11th consecutive week. MoMo, a trailing indicator, is based upon the current hot rolled coil price weighed against the previous 12 week average spot price as recorded by Steel Market Update. MoMo was […]
Written by: Brett Linton June ferrous scrap exports totaled 1,405,041 metric tons (1,548,791 net tons) with Turkey, Taiwan, South Korea, Vietnam, and Egypt being the top five countries where scrap was sent. Exports to most of the big players in the market, with the exception of Taiwan, South Korea and Vietnam, dropped dramatically from the […]
By Peter Wright Shipments of sheet steel products in the 2nd quarter averaged 4,114,539 tons / month, down from 4,138,875 in the 1st quarter, 0.6 percent, and down by 4.8 percent from Q2 2012. Year to date (YTD) shipments of all sheet products through the first half were 24,682,298 tons, down by 5.6 percent from […]
PITTSBURGH, Aug. 9, 2013 — /PRNewswire-USNewswire/ — The United Steelworkers (USW) have reached a tentative agreement on a new contract with AK Steel covering 860 workers at the steelmaker’s Ashland, Ky., facilities. The agreement, subject to ratification from the members of USW Local 1865, would be in effect for 18 months, through March 1, 2015. […]
By Peter Wright We know that steel demand is related to GDP which is heavily influenced by consumer spending. Spending is driven by income and both the perception of current debt and willingness to take on more. The Federal Reserve reports of personal income and credit outstanding are important pieces of the jigsaw puzzle of […]
Economy Moving in Right Direction but Not Firing on All Cylinders WASHINGTON, D.C. – August 8, 2013 – The Association of American Railroads (AAR) today reported that total U.S. rail traffic was mixed for July 2013, with intermodal setting a new July record for average weekly volume and carload volume decreasing slightly overall compared with July […]
By Brett Linton According to Baker Hughes data from August 9th, 2013, the U.S rig count for this week is 1,778 rigs exploring for or developing oil or natural gas. This number represents a decrease of 4 rigs compared to last week, with oil rigs down 3 to 1,385 rigs, gas rigs down 2 to […]
According to Baker Hughes data from March 22nd, 2013, the U.S rig count for this week is 1,746 rigs exploring for or developing oil or natural gas. This number represents a decrease of 30 rigs from last week. Compared to last year the 1,746 count is a decrease of 222 rigs. Canadian rigs decreased by […]
This week, the SMU Fair Value HRC (hot rolled coil) Model has spot HRC pricing below Fair Value for the sixth consecutive week after briefly rising above the Fair Value price in the week of February 8th. This is due to the SMU average spot HRC index decreasing $5 per ton last week to $610 […]
Utilizing a trailing average hot rolled coil (HRC) price, the SMU Price MoMo Index for flat rolled steel in the U.S. remained below zero percent this week for the tenth week after eight consecutive weeks of positive momentum readings. MoMo is based upon the current hot rolled coil price weighed against the previous 12 week […]
Written by: Brett Linton The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of January 2013. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates. The difference […]