U.S. auto sales slipped in April after a robust March. WardsAuto estimated the seasonally adjusted annual rate at 17.1 million and actual light vehicle sales for the month at 1.35 million, down from 17.4 million and 1.5 million, respectively, from the previous month. SUVs and pickup trucks led sales again this month, despite gas prices […]
Global manufacturing started second quarter with a small hop rather than a jump. The JPMorgan Global PMI posted 53.5 in April, up slightly from March’s six-month low of 53.3. “April PMI data signaled a marginal pick-up in the rate of expansion of the global manufacturing sector, the first growth acceleration seen since the turn of […]
A ruling that will assist in the enforcing measures against circumvention was approved this week by the U.S Court of Appeals for the Federal Circuit. The court ruled that the “substantial transformation analysis” is approved for use by Commerce in determining country-of-origin for products subject to antidumping and countervailing duties. The substantial transformation test determines […]
Construction spending dropped from the previous month to a seasonally adjusted annual rate of $1.285 trillion in March, but was still up compared to a year ago, according to an analysis of new Census data by the Associated General Contractors of America. AGC officials blamed the decline on drops in private sector construction as new […]
AK Steel reported solid first-quarter earnings but continued to advocate for trade action to curb unfair imports. “The high level of imports, particularly the ongoing surge of foreign electrical steel, remains a challenge, and we will continue to work proactively with the Trump administration to ensure fair and appropriate trade policies,” said AK Steel CEO […]
Nations all over the globe, including the United States, blame China for its wanton overproduction of steel and predatory trade practices such as dumping and intellectual property theft. But veteran steel analyst Chuck Bradford of Bradford Research in New York sees the Chinese becoming less of a threat to free trade over time. Recently back […]
Supply executives report that new orders, production and employment are growing, according to the latest survey by the Institute for Supply Management. The April PMI in the ISM Report on Business registered 57.3, a two-point decline from March. Most of the components of the PMI registered a decrease in percentage points from March, but were […]
Key market indicators tracked by Steel Market Update are at an all-time high for April but have shown signs of weakening in the past few months. Data released in April shows that 18 of the 36 indicators are historically positive with only 5 negative. The balance is within the historically normal band. Trends took a […]
This is Steel Market Update’s first Key Market Indicators report since April as we have renegotiated some data supply contracts and made a few changes to the content. The report still summarizes 36 data streams that we believe critically describe the state of the steel market and provide forward guidance to steel buyers. Data released […]
Steel Market Update is sharing this Premium content with Executive-level readers. For more information about upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Key market indicators in December were at an all-time high in the history of Steel Market Update’s analysis, but trends are deteriorating. This report summarizes 36 data streams that we believe critically describe […]
Indicators of manufacturing activity point to a strong first half for the U.S. economy and the steel industry. This report summarizes seven data sources that describe the state of manufacturing in the United States. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief in […]
Global steel demand will reach 1,616.1 million tons in 2018, an increase of 1.8 percent over 2017, estimates the World Steel Association in its spring Short Range Outlook. In 2019, WSA forecasts global demand will grow by 0.7 percent to 1,626.7 million tons. “In the next couple of years, the global economic situation is expected […]
The SMU Steel Summit Conference 2018 is the one conference that you and your company will want to attend. It is truly the steel conference to see and to be seen attending. Exceptional networking with decision-makers from manufacturing, steel distribution, steel mills, trading companies, toll processors and those associated with the industry. I got a […]
The 2018 SMU Steel Summit Conference is shaping up to be the most dynamic and largest steel conference we have ever conducted. Eight hundred executives are expected to join us in Atlanta on Aug. 27-29 for a one-of-a-kind event. Networking will be second to none, as will our speakers, from beginning to end. Even before […]
The 2018 SMU Steel Summit Conference is shaping up to be the most dynamic and largest steel conference we have ever conducted. Eight hundred executives are expected to join us in Atlanta on Aug. 27-29 for a one-of-a-kind event. Networking will be second to none, as will our speakers, from beginning to end. Even before […]
The number of companies – especially service centers – reporting they have been on allocation or controlled order entry has dwindled over the past couple of weeks. Many companies are reporting extended lead times or an abundance of late deliveries, but no full allocations with their suppliers. The one exception being plate companies, where almost […]
The number of companies – especially service centers – reporting they have been on allocation or controlled order entry has dwindled over the past couple of weeks. Many companies are reporting extended lead times or an abundance of late deliveries, but no full allocations with their suppliers. The one exception being plate companies, where almost […]
ArcelorMittal Dofasco is undertaking a massive upgrade to its hot mill operations to improve quality and productivity. With help from a $23 million grant and loan from the province, ArcelorMittal is investing $151 million to develop advanced high-strength steels that are in demand by the auto industry. The Canadian steelmaker will replace three aging coilers […]
Orders for durable goods, manufactured items expected to last three years or more, jumped 2.6 percent in March primarily driven by new contracts for Boeing airplanes. Orders for commercial aircraft and parts leapt 44.5 percent for the month, said the Commerce Department on Thursday. Excluding the volatile transportation category, new orders were flat for the […]
“Too many plates spinning right now to try and peg a price direction. The wrong tweet at the wrong time could throw all your planning out the window,” said one manufacturing company to Steel Market Update earlier today, explaining his take on the market. Steel buyers are seeing stability in most products with the possible […]
As a group, flat rolled steel buyers are of the opinion that prices on hot rolled, cold rolled and coated products have plateaued over the near term. However, to a person, the buyers are waiting for May 1st to arrive and then see how President Trump, USTR Robert Lighthizer and the Department of Commerce handle […]
President Trump’s tariffs on steel imports, designed to protect steel industry jobs, are likely to lead to a net loss in U.S. employment, at least in the short to medium run, contend economists with the Federal Reserve Bank of New York. The tariffs, and their effects on steel prices, are likely to cost more jobs […]
A new study by Martin Associates questioning the relationship between steel tariffs and mill capacity utilization was largely dismissed by the Commerce Department as industry propaganda, prompting a stern response from the American Institute for International Steel. AIIS released the analysis by Dr. John Martin on April 18 and stands behind his findings. The Secretary […]
Once each quarter, Steel Market Update publishes the official statistics for Chinese GDP, industrial production, consumer price inflation and fixed asset investment. Many analysts don’t believe these self-serving Party figures, but we include them in our reports because of the importance of China in the global steel scene, and these numbers are all that’s available. […]
Another hectic week in the flat rolled and plate steel markets. Buyers and sellers of steel are all waiting to see what calamity awaits when the clock ticks 12:01 AM on May 1. That is when the Section 232 country exclusions are set to expire, according to the deadline set by President Trump. What he […]
Is your company at risk due to the impact of the Section 232 tariffs? Industry executives responding to Steel Market Update’s April 16 flat rolled market trends questionnaire are almost evenly split on whether the Trump administration tariffs will help or hurt their businesses. Fifty-two percent say their business is not at risk, while 48 […]
According to manufacturing companies, as well as steel service centers, the steady trend for higher flat rolled steel spot prices out of the distributors is changing. For the past four months, at least 74 percent of distributors and their manufacturing customers have been reporting spot flat rolled prices as rising. The 46 percent of the […]
Thirty-eight states and the District of Columbia added construction jobs between March 2017 and March 2018, while 29 states added construction jobs between February and March, according to an analysis by the Associated General Contractors of America of Labor Department data. Strong private-sector demand and new public-sector investments in school and airport construction contributed to […]
There’s a distinctive noise of metal on metal floating through the halls of Oak Forest High School, and it’s music to the ears of Daniel Brown, the school’s industrial technology teacher. Brown has been supervising the Welding Works Explorer post in the Chicago suburb since fall 2016. He has been teaching welding for 17 years […]
I was asked if plate price momentum was also at neutral as we had just adjusted our flat rolled price momentum indicator away from higher to the neutral designation. To be honest, we haven’t actually incorporated plate into having its own index and it probably needs one. Plate prices don’t always move in sync with […]