US housing starts moved lower through October, declining for a second straight month after peaking in August, according to the latest data release from the US Census Bureau. Total housing starts stood at a seasonally adjusted annual rate (SAAR) of 1.31 million units in October, a 3.1% dip from September’s 1.35 million units. At the […]
Summer is here, and a familiar sentiment has hit the hot-rolled coil (HRC) futures market. Prices continue to decline in both the spot market and the futures market, with expectations of sub-$800 prices for the remainder of the year.
For the first time in weeks, activity in the futures market broke out of the recent “front grinds lower” pattern to provide new insight into the dynamics of the steel industry.
CMC reported solid demand and a healthy start to the construction season in its latest quarterly earnings statement.
US housing starts ticked up through April following March’s dip, according to the latest data release from the US Census Bureau.
President Biden announced an increase in tariffs this week on Chinese EVs, semiconductors, batteries, solar cells, steel, and aluminum.
Stelco reported a positive start to 2024 in its first-quarter earnings report on Thursday. And with steady demand and a stable market, the Canadian flat-rolled steelmaker is optimistic for the remainder of the year.
Following a strong February, US housing starts eased through March to a seven-month low, according to the most recent data from the US Census Bureau.
Last week was a newsy one for the US sheet market. Nucor’s announcement that it would publish a weekly HR spot price was the talk of the town – whether that was in chatter among colleagues, at the Boy Scouts of America Metals Industry dinner, or in SMU’s latest market survey. Some think that it could Nucor's spot HR price could bring stability to notoriously volatile US sheet prices, according to SMU's latest steel market survey. Others think it’s too early to gauge its impact. And still others said they were leery of any attempt by producers to control prices.
Global steel demand will reach roughly 1.793 million metric tons (1.976 million short tons) this year, an increase of 1.7% over 2023, the World Steel Association (worldsteel) said in its updated Short Range Outlook report. The gain will come after a 0.5% contraction in steel demand in 2023. Demand is forecasted to increase another 1.2% […]
US housing starts fell for the second consecutive month in January, according to the most recent data from the US Census Bureau.
The recession many predicted did not materialize in 2023, leading industry experts in several key end-user markets for steel cautiously optimistic for 2024.
US housing starts moved lower in December, even as single-family production topped the million mark for the second straight month, according to the most recent data from the US Census Bureau.
An increase in residential construction brought total construction spending up by 0.4% in November, according to a report from the Associated General Contractors of America (AGC). The uptick offsets a slowdown in public spending.
US housing starts jumped in November on lower interest rates stimulating home buying, according to the most recent data from the US Census Bureau.
US housing starts crept higher for a second consecutive month in October. Starts were lower, however than the same month last year, according to the most recent data from the US Census Bureau.
It’s time to register for the Tampa Steel Conference 2024, easily one of the premiere North American steel events. It’s a can't-miss steel industry conference, especially following the record-breaking attendance at SMU’s Steel Summit 2023 this past August.
US housing starts increased in September despite high-interest rates, according to the latest estimates from the US Census Bureau.
A recap of SMU's Oct. 4, 2023, Community Chat featuring AGC chief economist Ken Simonson and his outlook for the construction markets.
US housing starts slipped in August, according to the latest estimates from the US Census Bureau.
The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.
The LME aluminum three-month price was broadly stable again on the morning of Sept. 8 and was last seen trading at $2,180 per tonne.
Inventory availability and mortgage rates are a limitation for home buyers as existing home sales fell in July, according to the National Association of Realtors (NAR).
To kick off the official sessions of the 2023 Steel Summit, Dr. Anirban Basu, chairman and CEO of the Sage Policy Group, focused on the broader context in which steel prices are set, outlining major factors currently shaping economic outcomes in our country.
US Midwest premium has continued to trend lower. Slack end-use demand is the main driver as the CME backwardation holds for dates further out in 2023. Lower freight and weak LME prices lower the replacement costs of aluminum and thus lower the floor for the premium.
There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]
With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of […]
With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of the policy resulting in its continuation, it is clear that it has had a positive impact on parts of the industry. However, there are also a handful of knock-on effects that have become apparent.
US housing starts pulled back in June after a hitting an 11-month high in May.
US housing starts pulled back in June after a hitting an 11-month high in May. Total privately owned housing starts were at a seasonally adjusted annual rate (SAAR) of 1,434,000 units in June, according to the latest estimates from the US Census Bureau. Starts in May were revised slightly downward, from the previous estimate of […]