U.S. consumer confidence saw little change in May following repeated gains since the beginning of 2021, according to the latest data from The Conference Board. The May index edged down marginally by 0.3 points month on month, following increases of more than 30 points from February through April. “After rebounding sharply in recent months, U.S. consumer […]
Raw steel production by U.S. mills totaled 1,793,000 net tons in the week ended May 22, down 0.3% compared to the week prior when production totaled 1,799,000 net tons, according to the American Iron and Steel Institute (AISI). The mill utilization rate last week averaged 79.0%, down from 79.2% the week before but up 46.6% […]
Usinas Siderurgicas de Minas Gerais (Usiminas) has delayed planned upgrades to its blast furnace No. 3 (BF3) by 10 months. This is the second postponement to work on BF3 by the Brazilian steelmaker since originally confirming the planned investments in mid-2019. Due the ongoing impact of COVID-19 on the Brazilian marketplace, in specific the automotive […]
Salzgitter Mannesmann International (USA), Inc., will be under the new leadership of Thomas Rechtien, effective June 1. Rechtien most recently was responsible for the North American trading arm of Salzgitter Mannesmann International (USA), Inc., as General Manager of Trading and Automotive. Rechtien has served in a variety of roles during his 12-year tenure at the […]
World crude steel production in April was unable to sustain the recent surge in output, according to World Steel Association (worldsteel) data. As the globe works to recover from the economic blows inflicted by COVID-19 in 2020, global steel production is seeing mixed results. Following March’s month-on-month 12.7% jump, April’s underwhelming increase of 0.1% further […]
Ternium has completed its new hot strip mill in Pesqueria, Mexico, ahead of schedule. The Latin American steelmaker ran its first two hot rolled coils in mid-May at the new mill near Monterrey, more than two weeks ahead of its originally planned June start-up. “This is a very important milestone; it is the result of […]
Raw steel production by U.S. mills totaled 1,799,000 in the week ending May 15, up 1.4% compared to the week prior when production totaled 1,774,000 net tons, according to the American Iron and Steel Institute (AISI). The mill utilization rate last week averaged 79.2%, up from 78.1% the week before and up 47.1% from the […]
Steel Market Update’s latest analysis of monthly Key Market Indicators shows that the Present Situation markers have improved when compared to the month prior, while the Trend change saw a marginal contraction during the same period. Overall, the marketplace continues to recover from the pandemic as key metrics show further improvement. SMU’s Key Market Indicators […]
Auto assemblies in North America backpedaled in April as the ongoing shortage of semiconductor chips intensified and hindered automakers’ ability to produce cars and trucks, according to LMC Automotive (LMCA). April’s production totaled 1.087 million units, down from 1.217 million units in March or 10.7%. March saw a bump in auto production—the first in nearly […]
Mill shipments of steel products improved by 18.3% in March compared to the month prior, while apparent supply increased by 18.1% during the same period. The double-digit gains are even more impressive considering their low performance in February, the first decline in both apparent supply and shipments of steel since the market reached bottom back in […]
This report examines the import share of sheet and plate products. Imports’ share of total sheet product shipments was 12.7% in March, down from 14.0% in February. The decrease corresponds to a simultaneous increase in domestic shipments and a rise in imports; however, the surge in domestic shipments at 17.4% month on month outpaced the […]
This report examines the import share of tubular and long products shipments. Imports’ share of total tubular products rose to 46.2% in March, up from 44.6% in February. Despite a 30.7% surge in domestic tubular shipments month on month, imports were even stronger at 39.3% in March compared to February. Tubular imports fell consecutively in […]
Raw steel production by U.S. mills edged down 0.8% in the week ending May 8 compared to the week prior, the first decrease in nearly a month, according to the American Iron and Steel Institute (AISI). Production totaled 1,774,000 net tons last week while mill utilization averaged 78.1%, down from 1,788,000 net tons and 78.7% […]
The U.S. economy added just 266,000 jobs in April, a disappointment following stronger-than-expected growth in February and March and well below earlier estimates, reported the Bureau of Labor Statistics (BLS). Although far fewer workers were added to the payroll than the 1.0 million forecast by economists, there were some notable job gains in leisure and hospitality, pointing […]
The U.S. labor market had a disappointing showing in April as employment’s recovery hit a snag. The U.S. Bureau of Labor Statistics (BLS) reported that employers added just 266,000 workers to their payrolls in April, a far cry from the 770,000 new jobs added in March and 536,000 in February. Following the fastest gain in […]
U.S. steel product shipments rose by 1.9% in March after slipping by 1.7% the month prior. The rebound follows February’s decline—the first decrease since bottoming out in April 2020—which was attributed to seasonal factors. Shipments of manufactured durable goods saw a similar blip. March steel shipments posted a 9.9% increase when compared to March 2020, surpassing pre-pandemic levels, according […]
The U.S. appliance industry has a chip on its shoulder when it comes to competing with automakers for the scarce supply of semiconductors. The Association of Home Appliance Manufacturing (AHAM) has joined two of its sister industry associations—the Air-Conditioning, Heating and Refrigeration Institute (AHRI) and the National Electrical Manufacturers Association (NEMA)—in appealing to the Department […]
Russel Metals reported strong operating profits thanks to “favorable market conditions” across all business segments in the first quarter of 2021. The Canadian metals processor and distributor posted net earnings of $81 million in Q1, up from a loss of $9.0 million in Q4 2020 and up from $11 million year on year (all figures are in […]
Auto assemblies in North America gained ground in March for the first time since October, according to LMC Automotive (LMCA). North American production rose to 1.217 million units in March, up from 1.092 million in February, but production continues to suffer from the ongoing shortage of semiconductor chips. North American production was up 20.1% in […]
Steel Market Update is pleased to share this exerpt from one of our Premium articles with Executive members. For information on the benefits of upgrading to a Premium-level membership, email Paige@SteelMarketUpdate.com. Auto assemblies in North America gained ground in March for the first time since October, according to LMC Automotive (LMCA). North American production rose to 1.217 […]
The construction sector has seen positive, but uneven, growth as it works through the effects of the COVID pandemic. Total construction expenditures in March were $1.513 trillion, up 0.2% from February’s revised estimate of $1.509 trillion, reported the U.S. Census Bureau. Total construction was also up 5.9% compared to a year ago when construction spending was $1.463 […]
Raw steel production by U.S. mills rose for the third week in a row, hitting 1,788,000 tons in the week ending May 1, up 0.4% from the previous week when production totaled 1,781,000 net tons. The mill utilization rate last week averaged 78.7%, up from 78.4% the week before and up 44.4% from the same […]
Tata Steel Europe confirmed that it’s implementing a carbon surcharge on all new steel across Europe, effective July 2021. This new initiative by the India-based steelmaker will essentially pass on the cost of carbon emissions allowances to the buyer. “We recognise the challenges of climate change,” said a Tata Steel Europe spokesperson. “Tata Steel’s strategy […]
Allegheny Technologies Inc (ATI) will produce hot rolled coils from slabs produced at JSW Steel USA’s mill in Mingo Junction, Ohio, under a toll rolling agreement just signed between the two producers. Under the long-term agreement, a significant portion of the slabs produced in the JSW Mingo Junction melt shop will be converted to coils at […]
U.S. automotive sales saw their lowest third-quarter performance in a decade, a 13.4% decline in new vehicle sales, due primarily to low inventory and high prices. In September, new-vehicle inventory was down nearly 60% from 2020, and sales suffered accordingly, said Cox Automotive. New-vehicle sales totaled 3.395 million in the third quarter, the slowest third […]
Long products steelmaker Gerdau has completed the installation and cold commissioning of the rolling mill upgrade at its structural steel mill in Petersburg, Va. The $33 million project–originally slated for completion by late 2020 but delayed due to the impact of COVID-19–has also begun initial hot rolling trials, a company spokesperson confirmed. The project involved […]
U.S. gross domestic product (GDP) rose by 6.4% in the first quarter of 2021 on an annualized basis, according to the advanced estimate from the Bureau of Economic Analysis (BEA). The gain marks the second-fastest pace of growth since Q2 2003 and was exceeded only by the pandemic-reopening-fueled burst of Q3 in 2020. This growth […]
Allegheny Technologies Inc. posted a net loss of $7.9 million in the first quarter, with a slight recovery in jet engine production. First-quarter 2021 results are a vast improvement from the adjusted net loss of $41.9 million in the prior quarter, but a far cry from the pre-pandemic net income of $21.1 million in Q1 […]
Despite a homebuilding boom and an improving economy, construction employment fell in 203 metro areas in the 12 months from March 2020 to March 2021, reported the Associated General Contractors of America in their analysis of the latest government data. The 57.0% decrease in jobs over the 12-month period has hampered the industry on top […]
Raw steel production by U.S. mills inched up another 0.6% from the previous week, totaling 1,781,000 net tons in the week ending April 24 compared to 1,761,000 net tons the week prior. The mill utilization rate last week averaged 78.4%, up from 78.0% the week before and up 43.6% from the same period last year when production […]