The Bureau of Labor Statistics (BLS) report on non-farm employment reported that 295,000 jobs were added in February, the January result was revised down by 18,000. The three month moving average, (3MMA) of gains through February was 288,000. This job recovery is now seen to be much stronger than was the case in the mid-2000s […]
Warning: You can drown reaching for the bottom…! Steel Market Update (SMU) is learning that the ferrous scrap deals which were done earlier this week in Detroit and in northern Ohio were done at sideways pricing on obsolete grades (such as heavy melt and shredded scrap) while primes grades (Busheling/bundles) dropped $20 per ton. However, […]
Kloeckner Metals Corp, the Americas segment of Klockner & Co., posted EBITDA of €19 million ($21 million) for fourth quarter 2014, as compared to €2 million ($2.2 million) year over year. Sales for fourth quarter were €604 million, down from third quarter €634 million ($665 million) but up 16.3 percent y/y. Shipments in fourth quarter […]
The following article is normally produced just for our Premium level members. We are sharing the information today with all of our readers. The article is written by Peter Wright, consultant to Steel Market Update, Gerdau and the State of Wyoming. Peter, who is a metallurgist as well as market specialist, is also one of […]
U.S. automotive sales slid during frigid February. Sales were once again led by truck and SUV sales but total sales were less than anticipated. Sales were expected to be eight to nine percent higher than a year ago for a seasonally adjusted annual rate of 16.6 million to 16.7 million. As results came in on […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 36. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
A federal judge on Wednesday dismissed Nucor’s lawsuit against future competitor Big River Steel. U.S. District Judge Leon Holmes said Nucor’s citizen lawsuit is not authorized under the Clean Air Act and the court has no jurisdiction over the case. Nucor argued that Big River steel was violating emission standards by constructing the mill without […]
Each month the Bureau of Labor Statistics, (BLS) puts out its series of producer price indexes, for thousands of goods and materials. For an explanation of this program see the end of this piece. The latest release last Wednesday reported January results. We run this analysis every three months to give readers an opportunity to […]
AK Steel announced it will build a Research and Innovation Center in Middletown, Ohio. The 120,000 square foot Center will replace an existing research facility already located in Middletown. The project is estimated at $36 million and will be constructed on a 15 acre site. The Research and Innovation Center will house 75 researchers, scientists […]
North Star BlueScope Steel, a joint venture between BlueScope Steel Ltd. and Cargill, Inc., increased both earnings and shipments in the first half of FY 2015 ending on December 31, 2014. According financial reports from 50 percent owner BlueScope Steel Ltd, which we multiplied by two, North Star BlueScope shipped 1 million tonnes (1.1 million […]
Home prices increased slightly in December according to data from the S&P/Case-Shiller Home Price Indices, climbing 4.6 percent year over year in the National Home Price Index. The increase was slightly less than November’s pace of 4.7 percent. On a monthly basis, both the 10- and 20-City Composites reported increases of 0.1 percent in December. […]
Twice per month Steel Market Update conducts our flat rolled steel market analysis. We invite slightly more than 600 qualified companies to participate in our questionnaire which consist of questions about demand, inventories, foreign imports, pricing, sentiment, service center pricing and more. We have been compiling information since late 2008 (SMU began as an official […]
German steel company SMS is awaiting confirmation from Arkansas state officials to purchase the former Beckmann Volmer building in Osceola, Arkansas. SMS will supply approximately $600 million of steel mill equipment for the future Big River Steel mill. SMS, a provider of integrated systems for the processing of steel and metals, will supply all plants […]
Total service center carbon steel shipments in January increased by 372,400 tons to 3.368 million tons. There was a decrease of one shipping day to 21 in January. On a tons per day basis (t/d) shipments increased from 126,200 in December to 160,400 in January. In the eleven years since 2004 January shipments on average […]
Steel Market Update last Apparent Excess/Deficit forecast for flat rolled steel shipments and inventories called for shipments in January to exceed 2014 levels by 2 percent. Total flat rolled shipments for the month of January 2015 were projected by us to be 2,415,000 tons. In actuality, shipment levels were 1.6 percent higher than January 2014 […]
Steel Market Update (SMU) Steel Buyers Sentiment Index was measured at +53 earlier today based on the results of our most recent flat rolled steel analysis conducted this week. The +53 is 7 points higher than what we reported at the beginning of the month. Our Steel Buyers Sentiment Index measures how buyers and sellers […]
The American Institute of Architects (AIA) released their Architecture Billings Index (ABI) score for the month of January on Wednesday this week, reporting that the latest index is at a nine month low. The ABI score for January was 49.9, down 2.8 points from December’s score of 52.7. Note that the index is centered around […]
The Coface Group, a worldwide leader in credit insurance, publishes country risk assessments for 160 countries, based on its unique knowledge of company payment behavior and on the expertise of 350 underwriters located close to clients and their debtors. The following a reprint of their risk outlook for 2015. Laborious Global Recovery, Subject to Multiple […]
USW Local 2251 reports that Essar Steel Algoma is terminating 55 positions due to a decline in plate steel orders. According to a report by Soo Today, most of the employees have not completed their probationary period. The job cuts follow an announcement Jan. 23 confirming a contract for 1500 tonnes of plate for construction […]
Over the past two days Steel Market Update (SMU) has been attending the 26th annual Port of Tampa Steel Conference in Tampa, Florida. The Port of Tampa sits on 5,000 acres and is the closest U.S. port to the Panama Canal. Early in we got a taste of the rebirth of the downtown construction market […]
The Dodge Momentum Index fell 4.8 percent in January as a result of decreased planning activity in both commercial and institutional construction sectors. The January decline to 121.1 follows a jump of 11.7 percent in final three months of 2014, continuing a hesitant upward trend. On a year over year basis, the Index rose 5.8 […]
January steel exports from China in rose to an all-time monthly record of 10.29 million tons, surprising analysts who were expecting reduced shipments this month. Steel shipments were expected to fall after China canceled the export tax rebate for Boron-added steel on January 1. Analysts predicted steel export volume would drop as much 30 percent […]
The Q1 2015 February Senior Loan Officer Opinion Survey on Bank Lending Practices was released on February 2nd. This survey addresses changes in the standards and terms on, and demand for, bank loans to businesses and households on a quarterly basis and is based on the responses from 73 domestic banks and 23 U.S. branches […]
The Bureau of Labor Statistics (BLS) report on non-farm employment indicated that 257,000 jobs were added in January. As we were analyzing this date we noticed massive historical revisions and had to go back to January 2000 (15 years!) before were confident we had caught them all. In the 12 months of 2014, job creation […]
SSAB Americas posted sales of SEK 3.5 billion ($421.8 million) in Q4, a 17 percent increase from third quarter. For the full year 2014, the Americas segment had sales of SEK 13.2 billion ($159 million) up from SEK 11.1 billion ($133 million) in 2013. Fourth quarter external steel shipments were down 13 percent year over […]
The following article is normally produced just for our Premium level members. We are sharing the information today with all of our readers. The article is written by Peter Wright, consultant to Steel Market Update, Gerdau and the State of Wyoming. Peter, who is a metallurgist as well as market specialist, is also one of […]
The United States Senate passed the Keystone XL oil pipeline bill by a vote of 62-36 on Thursday, Jan. 29. Nine Democrats joined the Republican-controlled Senate in supporting the bill. The House is expected to vote on the Senate version of the bill early next week. The Keystone XL legislation includes two energy-efficiency programs that […]
The Bureau of Economic Analysis (BEA) released the first estimate of Q4 2014 Annual Revision of the National Income and Product Accounts on Friday. The annualized growth rate in the 4th Q disappointed economic pundits by coming in at 2.64 percent after increasing by almost 5.0 percent in Q3. GDP is measured and reported in […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 36. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
Steel Dynamics reported a record setting year and fourth quarter 2014. Steel shipments for the quarter were up 51 percent to 2.3 million tons from 1.5 million tons in Q3 2013. Steel fabrication had operating income of $22 million following a loss of $122,000 a year ago. For the full-year 2014 steel shipments totaled 7.4 […]