The upward trend in mill shipments and supply of sheet products continues, although the pace fell off as the fourth quarter carried on. After reaching bottom in June, as a result of the global pandemic, mill shipments and supply maintained a slow but steady upward trajectory through November 2020. This analysis is based on steel […]
This report is an analysis of Bureau of Labor Statistics (BLS) data and is intended to provide subscribers with a view of the competitive positions of sheet steel, aluminum, plastic and wood. The analysis includes some downstream products and a comparison of truck and rail transportation. On Jan. 15, the BLS released its series of […]
Weekly raw steel production by U.S. mills totaled 1,709,000 net tons in the week ending Jan. 9, up 3.6 percent from the week before when the total was 1,650,000 net tons. The mill utilization rate was 75.4 percent, up from 74.6 percent the week prior; however, down by 10.3 percent compared to the same week […]
U.S. consumer confidence continues to fall as global pandemic fatigue sets in and genuine relief still seems far away. Despite a slight correction and stability throughout the summer months, the composite value of consumer confidence, reported by The Conference Board, has now slipped repeatedly during the fourth quarter from 101.8 in September to 88.8 in […]
The economy lost 140,000 jobs in December after seeing repeated gains month on month since May, reported the Bureau of Labor Statistics (BLS). The pace of job additions had slowed significantly in November compared to October when additions were 245,000 and 638,000, respectively. The change in direction comes as the market enters the winter months and […]
Employment gains have slowed each month since June, and after a marginal increase in November, December employment numbers retracted for the first time since March, according to Steel Market Update’s latest analysis of the U.S. Bureau of Labor Statistics (BLS) data. The net change in employed persons in December was a negative 140,000, following a disappointing […]
Overall, steel product shipments continued to improve through November, reporting an increase for the seventh consecutive month. Despite the gains, the improvement continues at a slower pace than the overall manufacturing economy. The market is still working to recover from the initial effects of the Covid-19 shutdowns back in April. As a result, despite the steady […]
This report examines the import share of sheet, plate, long and tubular products. As of October 2020, imports’ share of total sheet products was 11.8 percent, down from 16.6 percent in May and from a recent high of 22.9 percent in 2015. The import share of HRC has been below 10 percent since January 2019, […]
Weekly raw steel production by U.S. mills totaled 1,650,000 net tons in the week ending Jan. 2, up 3.1 percent from the week before, which saw some slowing due to the holiday. The average mill utilization rate rose to 74.6 percent, up from 72.3 percent the week prior. Production in the last week of 2020 […]
This report is an analysis of Bureau of Labor Statistics data and is intended to provide subscribers with a view of the competitive position of sheet steel, aluminum, plastic and wood. The analysis includes some downstream products and a comparison of truck and rail transportation. On Dec. 10, the BLS released its series of Producer […]
Weekly raw steel production by U.S. mills totaled 1,619,00 net tons in the week ending Dec. 19, up from 1,567,000 net tons week on week. The operating rate was 73.2 percent, up 3.3 percent from 70.9 percent the week prior. The increase is likely a reflection of mills adding capacity, including U.S. Steel’s restart of […]
Weekly raw steel production by U.S. mills totaled 1,600,000 net tons in the week ending Dec. 26, down 1.2 percent from the prior week, most likely due to the holiday lull. The mill utilization rate was 72.3 percent, down from 73.2 percent the week before and 78.5 percent in the same week last year. Adjusted […]
After reaching bottom in June, due largely to the global pandemic, mill shipments and supply of sheet products have since maintained a slow but steady upward trajectory. This analysis is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce. The analysis […]
Weekly raw steel production by U.S. mills totaled 1,567,000 net tons in the week ending Dec. 12, down slightly from 1,579,000 week on week. The operating rate was 70.9 percent, down 0.8 percent from 71.4 percent the week prior, based on the American iron and Steel Institute’s calculations, which include idled capacity. Actually, despite the […]
Downstream steel product shipments continue to improve, though slower than the overall manufacturing economy. The fallout driven by the first wave of the global pandemic back in April is still evident in the data despite the steady rebound. The Census Bureau provides monthly data on inventories, shipments and new orders for total U.S. manufacturing and […]
Weekly raw steel production by U.S. mills totaled 1,579,000 net tons in the week ending Dec. 5. As expected, production increased by 1.2 percent after edging off slightly the week prior due to the Thanksgiving holiday break. The operating rate as a result rose to 71.4 percent, up from 70.6 percent the prior week. Even though present […]
Weekly raw steel production by U.S. mills totaled 1,561,000 net tons in the week ending Nov. 28, while the average operating rate was 70.6 percent. Production declined by 1.3 percent from the week prior, likely due to the holiday break. Present capacity utilization represents a 14.4 percent decrease from the same period last year when […]
Weekly raw steel production by U.S. mills totaled 1,582,000 net tons in the week ending Nov. 21. The operating rate was a fraction higher than the prior week at 71.5 percent. Despite the steady increase in production through much of 2020, the latest week’s output remains 13.2 percent behind the same week last year when the […]
Raw steel production by U.S. mills increased by 7,000 net tons last week. In the week ending Nov. 14, domestic steel production totaled 1,580,000 net tons, pushing the average industry capacity utilization rate up slightly to 71.4 percent. Although production continues on a slow upward trajectory, it remains 13.3 percent below the same week last year when the operating rate was […]
Editor’s note 11/17/20: The data in the “Supply Tons YTD” column on Table 3 didn’t populate correctly, and therefore, was in error. Table 3 has now been updated accordingly. Mill shipments and supply of sheet products continue to see slight yet steady growth since reaching bottom in June. This analysis is based on steel mill […]
Weekly raw steel production by U.S. mills continues to climb, a trend that started back in May. In the week ending Nov. 7, raw steel production totaled 1,573,000 net tons. The capacity utilization rate rose to 71.1 percent, up from 70.0 percent the week prior. Despite the steady rise in output, the current week’s production represents […]
After declining drastically earlier in the year due to the onset of COVID-19, U.S. consumer confidence has improved, but still has a way to go. Following increases in August and September, the composite value of consumer confidence, as reported by The Conference Board, slipped slightly in October to 100.9, down from 101.8 the month prior. […]
Domestic mills continue to increase steel production as the economy rebounds from the coronavirus, with the capacity utilization rate topping 70 percent again for the first time since late-March. In the week ending Oct. 31, raw steel production totaled 1,557,000 net tons, at a mill operating rate of 70.4 percent, up from 69.7 percent the […]
Editor’s note 11/3/20: Some of the data as originally published in Table 1 was incorrect due to a spreadsheet error (specifically the change in shipments 3M Y/Y column). The table has been updated with the correct information below. Mill shipments and supply of sheet products have turned, albeit slightly, since reaching bottom in […]
Raw steel production by U.S. mills rose again by 2.2 percent to 1,535,000 net tons in the week ending Oct. 17, continuing an uptrend that began nearly five months ago. The mill operating rate hit 69.4 percent, up from 67.9 percent the week prior. Despite the repeated rise in capacity utilization, production was still down by 15.0 percent […]
With early voting underway, record breaking mail-in ballots, and a final voting date a mere 14 days away, it is safe to say that much is riding on the upcoming U.S. presidential election. With two candidates who share little common ground in a bitter election battle, it’s clear that a shift in presidential administration will […]
Raw steel production by U.S. mills rose another 1.2 percent in the week ending Oct. 10 to 1,502,000 net tons, the 16th increase in the last 18 weeks. The operating rate reached 67.9 percent last week, up from 66.6 percent the week prior. Even though production has experienced steady increases, mill output was still 16.8 percent below levels of […]
The following report was done by David Schollaert, the new analyst at Steel Market Update. He was asked to take a look at past market trends and to lay out scenarios for future trends. Obviously, there are black swan events (such as the Section 232 tariffs) which can push a market in one direction much […]
Raw steel production by U.S. mills increased 0.3 percent in the week ending Oct. 3 to 1,484,000 net tons, another small sign of rising steel demand. The operating rate of 66.6 percent was up from 66.1 percent the week prior. Although domestic production has seen steady gains since April, last week’s output was still 17.7 percent […]
U.S. consumer confidence has suffered drastically from the pandemic, but has shown some positive signs of late. The composite value of consumer confidence in September, reported by The Conference Board, was 101.8, surpassing the 100 mark for the first time since March 2020. The three-month moving average (3MMA) moved up to 93.3. Despite the increase, the […]