Written by: Sandy Williams Reliance Steel reported an 18 percent drop in net income of $80.4 million in fourth quarter 2012. Net income for the year rose 17.4 percent year over year to 403.5 million. Sales of $1.89 billion for the fourth quarter were 7.1 percent lower than a year ago and down 8.1 percent […]
The following table shows bare and prepainted cold rolled, galvanized, electro-galvanized, Galvalume, bare aluminized and bare Terneplate imports for the month of December 2012. We show the comparison to November 2012 and the three-month moving average (3MMA) and twelve-month moving average (12MMA) with the change year-over-year (YOY).
Apparent steel supply for the month of December 2012 came in at 8,317,920 net tons. This represents a decrease of almost 2 percent compared to the previous December. We found imports rose by 19 percent (semi-finished – which are brought in by the domestic mills – rose by 39 percent) while exports dropped by 19 […]
“’Europe’s steel mills face obsolescence and steelmakers may quit the region if politicians continue to prevent restructuring and capacity cuts in the sector’ said Wolfgang Eder, the chief executive of Austrian specialty steelmaker Voestalpine and president of the European Steel Association, or Eurofer.” (Wall Street Journal) Eder’s comment comes on the heels of the announcement […]
The U.S. Department of Commerce released final census data for the month of December and found that total steel imports were down 9 percent when compared to the previous month. Major drops were reported in hot dipped galvanized (HDG) which fell by 30 percent compared to November, cold rolled which dropped by 17 percent and […]
Written by: John Packard Steel Market Update did not move our Price Momentum Indicator out of Neutral where we have been “stuck” for the past 10 – now going on 11 weeks. The market lacks clear direction – or maybe a better way to view it is the market lacks personality. This is perhaps best […]
Even as prices “firm” a bit from where they were one week ago, our SMU Price Momentum Indicator remains stuck in Neutral for the 10th consecutive week due to the following factors. We always prefer to give the domestic mills an opportunity to sell their price increases into the marketplace, so we automatically move to […]
Dear Editor, Once again, both Nucor and US Steel in their quarterly earnings calls partially blamed imports for their less than stellar results, and frankly, this is getting old. For the record, it is NOT illegal to import steel into the United States. It might be illegal if those imports were dumped (meaning sold below […]
Written by: Sandy Williams The New Year began with promise for U.S. manufacturers. The ISM Manufacturing PMI registered 53.1 percent in January signaling expansion in the manufacturing sector for the second consecutive month and increasing 2.9 percent from December’s seasonally adjusted rate of 50.2. The overall economy rose for the 44th consecutive month according to […]
Steel Market Update likes to review the transcripts of the earnings conference calls between analysts and the steel mills to see what we can glean from the comments being made by the top executives at the mills. We found a number of items of interest in the U.S. Steel conference call. USS Running at 90% […]
Written by Sandy Williams United States Steel Corporation reported a net loss of $50 million for the fourth quarter of 2012 compared to net income of $44 million in the third quarter and a net loss of $211 million in fourth quarter 2011. Total earnings for the year 2012 showed a net loss of […]
On Thursday I attended the American Institute for International Steel (AIIS) West Coast Dinner in Long Beach, California. Many thanks to David Phelps, president of the AIIS and his West Coast team who did a great job with the dinner and the program. A couple of quick notes to share with our readers, Marcel Van […]
Based on the most recent data released by the Department of Commerce projects 2012 total steel imports to be 33,347,611 net tons – this represents an increase of just shy 17 percent versus the 28,515,247 net tons imported into the U.S. during 2011. Galvanized tonnage was up by 36 percent, Galvalume by 22 percent, cold […]
December Imports Down 15% Imports dropped by 377,746 net tons compared to the prior month. On a day’s adjusted basis December imports were 15 percent lower than November. Based on preliminary license data January imports are projected to be approximately 2.9 million net tons – well above both the 3-month and 12-month moving average. Semi-finished […]
A quick reminder that our Steel 101 workshop registration is open – details about our program, our instructors, and the tour of Severstal Columbus which is part of the program and discount details for SMU member companies are on our website: www.SteelMarketUpdate.com – or you are welcome to contact our office with any questions you […]
November apparent steel supply grew by 8 percent year-over-year to 8,468,720 tons. Imports were up by 28 percent (semi-finished being a major piece up 41.57 percent) while exports shrunk by almost 19 percent to just under 1,000,000 tons (998,040 tons). The United States increased its imbalance as a net importer (YOY) has grown apparent steel […]
Written by: Sandy Williams Iron ore prices are at a 15 month high but are unlikely to stay that way say analysts. Currently, 62% Fe ore is at $158 per tonne, soaring from November’s price of $116 and almost doubling from the low of $87 per tonne in September. Analysts say the increase is a […]
On Friday, the U.S. Department of Commerce released final census data for the month of November and preliminary census data for the month of December. Based on that data, SMU forecast 2012 imports will be 17 percent higher than what was imported one year earlier. A large portion of those tons were imported by domestic […]
Have tons to buy? Negotiate… What price you will pay for steel at the beginning of January will depend on a number of variables – but one thing is for certain – if you have tons to buy it is best to negotiate with your suppliers. At least that is what our sources have been […]
The Institute for Supply Management increased its manufacturing purchasing managers’ index to 50.7 in December from 49.5 in November. A rating above 50 indicates an expansion in activity. The ISM uptick comes in tandem with Markit data, also released on Wednesday, that put the Markit US PMI rating at 54.0 in December—a jump from 52.8 […]
Of the 33,512,516 net tons of total imports projected by Steel Market Update to be received into the United States during calendar year 2012 some 7,584,955 net tons are forecast to be semi-finished. Semi-finished products include slabs, billets and blooms – however, the vast majority of them are slabs being imported by the domestic steel […]
Based on total projected imports of 33,512,516 net tons for calendar year 2012, imports for this year will be at the highest level since the recession began. The last year imports exceeded what we are projecting based on US DOC license data through December, was 2006 when the U.S. received 45,273,023 net tons. Based on […]