By CRU Principal Analyst James Campbell The decline of long product prices accelerated this month as demand in many regions around the world failed to ignite after the seasonally slow July-August period. Prices have now unwound to the level before the 2017-18 boom. Sluggish demand and falling scrap prices have turned sentiment bearish and buying […]
Demand for sheet products is declining due to the weakness in manufacturing. Construction expenditures are showing signs of softening and will reduce the demand for long products through the balance of 2019. This analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import/export […]
By CRU Principal Analyst Chris Asgill The pervasiveness of steel market weakness came to the fore this month, particularly for steel long products, leading to a sharp drop in scrap prices in almost every market we assess. Consequently, the CRU metallics price indicator (CRUmpi) dropped by 8.3 percent m/m to 209.4 (see chart), the lowest level since November […]
On Jan. 7-8, 2020, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Ontario, Calif. This workshop will include a tour of the California Steel Industries mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader understanding of: How steel […]
On Jan. 7-8, 2020, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Ontario, Calif. This workshop will include a tour of the California Steel Industries mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader understanding of: How steel […]
Total rolled product imports in August were down by 11.8 percent on a three-month moving average (3MMA) basis year over year. This follows the 15.3 percent decline in July on the same basis. This early look at August’s import volume is based on Commerce Department license data (see explanation below.) This import analysis includes all […]
Demand for long products continues to be very strong, driven by the construction industry. Demand for sheet products is declining due to the weakness in manufacturing. This analysis by Steel Market Update 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 […]
The import market share of all steel products including semifinished has been below 20 percent every month since January. Steel Market Update data goes back to January 2003 in which time period the high import share was 38.8 percent in January 2015. Between January 2014 and February 2019, there were only four months when the […]
The steel industry enjoyed a profitable first half of 2018 due to a strong economy and tariffs on imports that drove up domestic prices. The welcome windfall prompted several companies to commit large investments toward expansion and modernization of their facilities. In all, about 31 million net tons of new steel capacity could potentially come […]
Electric arc furnace minimills may have a cost advantage in steel production today, but there are still 19 traditional blast furnaces going strong in the United States. Blast furnaces dominate about three-fourths of global steelmaking, but only three steel producers in the U.S. currently are using BF or basic oxygen furnace technology: U.S. Steel, ArcelorMittal […]
Steel Market Update’s analysis of Key Market Indicators shows the present market situation was basically unchanged in the last month, based on data released in July, but half the 36 indicators trended positive and half negative. This report is designed to be a big picture summary of data on which we have reported in detail […]
ArcelorMittal suffered a net loss of $447 million in the second quarter due to high raw material costs and sharply lower steel prices in the U.S. resulting in impairment charges on fixed assets in ArcelorMittal USA of $600 million. An additional impairment charge of $347 million occurred due to the sale of assets related to […]
By CRU Analyst Chris Bandmann CRU is launching weekly Turkish HR coil export prices, enhancing the existing suite of weekly Turkish long product and scrap prices. This Insight being offered for these other markets has now been brought to flats – and offers a window into the world of Turkish hot rolled coil exports. Turkey […]
By CRU Principal Analyst Josh Spoores and CRU North America Analyst Ryan McKinley U.S. domestic scrap prices fell by $10 /l.ton m/m in the Great Lakes and Ohio Valley for most grades prior to the Independence Day holiday, but dealers the following week pushed back on the price decline, with some successfully securing little to […]
Total rolled product imports in June were down by 20.5 percent on a three-month moving average (3MMA) basis year over year. This follows the 27.4 percent decline in May on the same basis. This early look at June’s import volume is based on Commerce Department license data (see explanation below.) This import analysis includes all […]
Demand for long products is very strong, driven by the construction industry. Demand for sheet products is declining. This analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and imports/export data from the U.S. Department of Commerce (DoC). The analysis summarizes total steel supply […]
On Oct. 8-9, 2019, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Cincinnati, Ohio. This workshop will include a tour of the Nucor Steel Gallatin Mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader understanding of: How steel […]
Steel Market Update’s analysis of the Key Market Indicators shows a slight improvement in both our view of the present situation and in the trend of the indicators in June. This report is designed to be a big picture summary of data on which we have reported in detail during the month. In it we […]
By CRU Analysts Kevin Bai and Ruilin Wang Chinese economic stimulus in 2018 and 2019 will add a total of 21 Mt to Chinese domestic steel demand, most of which is expected to manifest in 2019. Including this, total Chinese domestic steel demand is now expected to grow at around 3 percent this year. Other […]
By CRU Prices Analyst Estelle Tran Hundreds of steel executives from around the world gathered in New York City this week to hold meetings and learn about what will drive the steel markets in the second half of the year. The CRU Steel Briefing on Monday, June 17, provided attendees with our views on sheet […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Table 1 shows total supply to the market in three months through April and in 12 months through April for the four product groups and the 16 subcategories. Supply to the market is the total of domestic mill shipments […]
Steel Market Update Briefs: ArcelorMittal, JSW Steel, Reibus in the news: JSW Steel Output Up 4.0 Percent in May JSW Steel announced that its steel output grew to 1.45 million metric tons in May 2019, a 4 percent increase year-over-year. Flat rolled products increased 6.0 percent to 1.02 million metric tons and long products increased […]
Steel Market Update is pleased to share this Premium content with Executive-level members. For more information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Demand for long products is strong, driven by construction, while demand for sheet is declining, according to this SMU analysis of the latest data from the American Iron and […]
Total rolled product imports in May declined by 27.4 percent year over year on a three-month moving average (3MMA) basis. This follows the 24.4 percent decline in April. This early look at May’s import volume is based on Commerce Department license data (see explanation below.) This import analysis includes all major steel sectors: sheet, plate, […]
Key Market Indicator trends deteriorated in May and were the worst since October 2016, according to Steel Market Update’s analysis. This report is designed to be a big picture summary of data we have reported in detail during the month. In it we summarize 36 data streams that critically describe the state of the steel […]
British Steel Ltd. has been ordered into liquidation after failing to receive another bailout from the government. British Steel hoped to receive a $95 million support package from the government to help it with issues related to the U.K.’s withdrawal from the European Union. The government previously granted a $152 million loan to the company […]
By CRU Principal Analyst Josh Spoores and Analyst Ryan McKinley Steel imports to the U.S. from Canada and Mexico prior to the S232 tariffs were near 12 Mt on an annualized basis. Data from this past March and April show arrivals closer to 7.5 Mt annually. With the end of the S232 on the U.S.’s […]
Demand for long products and tubular goods have shown strong growth, but sheet products are declining. This analysis by SMU staff is based on data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce (DoC). The analysis summarizes total steel supply by product from 2003 through March 2019 and year-on-year […]
Steel Market Update is sharing this Premium content with Executive-level members in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. Rolled product imports declined by 24.4 percent in April year over year on a three-month moving average (3MMA) basis. This early look at April’s import volume is based […]
ArcelorMittal faced a number of challenges that impacted earnings in the first quarter resulting in net income plunging 66 percent to $414 million from $1.19 billion reported in both the fourth quarter of 2018 and first quarter of 2019. Earnings reflected a $150 million impairment charge related to the sale of assets to acquire ArcelorMittal […]