We included this article in tonight’s issue because we saw evidence of confusion between the defunct Warren Steel of RG Steel fame and that of Warren Steel Holdings which is a long products mill also located in Ohio. Long products producer Warren Steel Holdings, LLC (not to be confused with the former Warren flat rolled […]
Total shipments of sheet and strip products including hot rolled, cold rolled and all coated products were up by 0.8 percent year to date (YTD) compared to the first four months of 2013. In the period January through April compared to the previous three months, the total tonnage was up by 4.8 percent. Comparing YTD […]
The U.S. Department of Commerce released final census data regarding exports of steel out of the U.S. steel mills this past week. According to the US DOC data, the domestic mills exported a total of 1,079,723 net tons of steel products during the month of April 2014. This is in line with the previous two […]
The steel storage facilities located at ports around the United States are brimming with foreign steel. We have been advised that companies like Kinder Morgan and Fleetwood Port Services are at maximum capacity in their Houston facilities and struggling with Savannah, Camden and other port facilities. However, that is not the major problem facing the […]
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 at present is thirty five, the Chicago Fed Mid-West Manufacturing Index is still on hold to enable the staff to complete a major re-vamp of the […]
Licensed data for May was updated on June 3rd through the Steel Import Monitoring System of the US Commerce Department. The SMU publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is published in our […]
Licensed data for May was updated on June 3rd through the Steel Import Monitoring System of the US Commerce Department. The SMU publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is published in our […]
SMU was told this afternoon that AK Steel has finally “caught up” on their hot rolled and cold rolled orders and, as our source put it today, “was out looking for orders.” There was no reference to AK dropping pricing at this time. We were told the mill was still sold out on coated products. […]
Total service center carbon steel shipments in April rose by 125,500 tons to 3.640 million tons, the highest monthly tonnage since March two years ago. Shipping days in April were unchanged from March at 21. Tons per day (t/d) shipments rose from 167,400 March to 173,300 in April, both on a non-seasonally adjusted basis. Intake […]
The supply of all steel products in Q1 2014 was up by 5.9 percent from Q1 last year. Flat rolled was up by 4.5 percent and longs were up by 9.8 percent. The sources of this analysis are the Commerce Department trade statistics and AISI steel shipment data.The bad news is that imports of all […]
ArcelorMittal losses narrowed in the first quarter of 2014. The company posted a net loss of $200 million in the first quarter compared to $345 million in Q1 2013. First quarter EBITDA was $1.75 billion, an increase of 23 percent from Q1 2013. Sales of $19.8 billion were below Q4 and almost par with Q1 […]
When Nucor announced their earnings on April 24th they held a conference call with analysts to discuss their business and to make statements about their company, the markets they serve and about the economy in general. John Ferriola, Nucor’s Chairman, CEO and President, provided an opening statement during which he made the following remarks regarding […]
One of the products which is provided to our Premium Level members only is our Key Market Indicators. Our KMI analysis is showing an improving (more positives than negatives) situation, especially in the flat rolled steel markets. An explanation of the Key Indicators concept is given at the end of this piece for those readers […]
The following is an analysis of trading over the past week in the financial markets, especially in the hot rolled coil derivatives (futures) and busheling scrap futures markets. This article was written by Andre Marshall, CEO of Crunchrisk, LLC and the instructor for the Steel Market Update Managing Price Risk series including our newest addition: […]
Total service center carbon steel shipments in March rose by 283,700 tons to 3.515 million tons, more than making up for the February decline. Shipping days increased from 20 in February to 21 in March. Tons per day (t/d) shipments rose from 161,600 tons in February to 167,400 in March, both on a non-seasonally adjusted […]
The following is a report which is normally provided to only our Premium Level members. It is a detailed analysis of flat rolled, long products and semi-finished imports through the month of March 2014. Written by Peter Wright, we analyze how accurate license data is and provide a table using three month moving averages to […]
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 at present is thirty five, a decrease of one as the Chicago Fed Mid-West Manufacturing Index has been put on hold until late April to enable […]
Total service center carbon steel shipments in February declined by 225,000 tons but this was because shipping days declined by two to twenty. Tons per day (t / d) shipments rose from 158,500 tons in January to 161,600 in February. Intake was 162,820 t / d leading to a monthly surplus of 24,400 tons and […]
Canada was the highest volume exporter of all carbon and low alloy steel products to the US in both the last 12 and 3 month periods through January with 4,956,812 and 1,172,616 tons respectively (Figure 1). Mexico came in 4th in 12 months after Brazil and Korea but was bumped into 5th place by Russia […]
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 at present is thirty-six. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. The present situation of […]
Total service center carbon steel shipments jumped by 662,100 tons in January which was a smaller start-of-year bounce than either 2012 or 2013. January tons per day shipments increased by 24,000 to 158,500 tons. In January 2012 and 2013, tons per day shipments increased by 35,000 and 38,000 tons, respectively. Intake was 167,100 tons, leading […]
I want to take a moment to thank Mark Bush, General Manager Mobile Operations for SSAB Americas as well as Brent Major of SSAB Americas for their hospitality during our tour of the SSAB Mobile steel facilities as part of our most recent Steel 101 workshop. Our group was impressed with the steelmaking as well […]
Imports of total flat rolled products increased in January to 990,803 tons from 852,840 in December. Total long products increased from 412,848 to 552,093 tons. Total sheet products as a sub set of flat rolled increased from 677,510 to 775,337 tons. Semi finished declined from 604,558 to 532.813 tons. An analysis of the 3 month […]
January 24th 2014. The Turkish Lira is in freefall. What does this mean for the US ferrous scrap industry? This is a hard question to answer because we don’t know what we don’t know. What we do know is that the Turkish Lira has declined by 20.1% against the US $ in the last 12 […]
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 by Steel Market Update at present is thirty six. The present situation of twelve of the indicators based on historical standards was positive on January 28th […]
January 24th 2014. The Turkish Lira is in freefall. What does this mean for the US ferrous scrap industry? This is a hard question to answer because we don’t know what we don’t know. What we do know is that the Turkish Lira has declined by 20.1% against the US $ in the last 12 […]
The Eurozone is expected to have mild yet fragile growth throughout 2014 according to the EUROFER Q1-2014 Economic and Steel Market Outlook compiled by the EUROFER Economic Committee (EC). Indicators are pointing towards increased growth for industrial production, an important component for carbon flat rolled steel production in Europe. GDP has been edging up since […]
In the 12 months through November the US imported 29,129,427 tons of all steel products including semi finished, exported 11,594,574 tons for a net steel trade deficit of 17,534,853 tons. The major net importer was Brazil with 3,591,401 tons. Canada and Mexico both imported more from the US than they exported to the US resulting […]
Ferrous scrap prices, which prior to the beginning of negotiations for the month of January were forecast to rise by $20 to $50 per gross ton, actually began shrinking as this past week progressed. Early settlements ranged from $10 on prime grades to $15-$25 per gross ton on obsolete and shredded scrap. As the week […]
In the United States approximately 60 percent of the steel produced is through electric arc furnaces (EAF) used by so-called “mini-mills.” Electric arc furnaces use primarily scrap along with pig iron or DRI (direct reduced iron) to charge the furnaces. All of the long products (rebar, bar, angles, beams) are produced through EAF technology and […]