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 […]
Written by: Brett Linton The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of December 2012. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting versus 50 percent for the weekly estimates. Total raw […]
According to Baker Hughes data from January 18th, 2013, the U.S rig count for this week is 1,749 rigs exploring for or developing oil or natural gas. This number represents a decrease of 12 rigs from last week. Compared to last year the 1,749 count is a decrease of 259 rigs. Canadian rigs increased by […]
Written by: Brett Linton Utilizing a trailing average hot rolled coil (HRC) price, the SMU Price MoMo Index for flat rolled steel in the U.S. fell below zero percent this week for the first week after eight consecutive weeks of positive momentum readings. MoMo is based upon the current hot rolled coil price weighed against […]
Written by: Brett Linton Utilizing a trailing average hot rolled coil (HRC) price, the SMU Price MoMo Index for flat rolled steel in the U.S. fell to exactly 0 percent this week after eight consecutive weeks of positive momentum readings. MoMo is based upon the current hot rolled coil price weighed against the previous 12 […]
Written by: Brett Linton The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of November 2012. 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 […]