Total Canadian steel shipments for all products in March were 421,300 net tons, an increase of 15.2 percent from the month before and an increase of 7.4 percent from March 2017. Total steel inventories at the end of the month stood at 1,165,000 tons, down 0.5 percent from last month and down 2.0 percent from […]
February service center shipments were almost exactly normal on a month/month basis though there were some bright spots. Daily shipments decreased by 0.6 percent from January. Since 2009 on average, February has decreased by 0.8 percent. Carbon steel shipments were 148,900 tons per day. The number of shipping days decreased from 21 to 20. Intake […]
Steel service centers in the United States have seen inventories reach a bottom after years of decline and appear to be slowly bouncing back (see graphic below). This appears to be true for all steel products combined as well as flat rolled, plate, and pipe & tube segments. During the month of February 2017, U.S. […]
Total Canadian steel shipments for all products in February were 365,700 net tons, a decrease of 11.2 percent from the month before and a decrease of 7.8 percent from February 2017. Do keep in mind that total January shipments were at an 18 month high. Total steel inventories at the end of the month stood […]
Turkey has filed a complaint with the World Trade Organization against U.S. countervailing duties placed on imports of pipe and tube products. Turkey requested the WTO initiate dispute consultation with the United States alleging the U.S. determination and imposition of duties was inconsistent with the WTO’s Agreement on Subsidies and Countevailing Measures (SCM Agreement) and […]
January service center shipments were exceptional. There are times when we wish we weren’t so hung up on three month moving averages and this is one of them. Daily shipments increased by 29.9 percent from December. Since 2009 on average, January has increased 8.1 percent hence our enthusiasm for the latest data. Carbon steel shipments […]
Total Canadian steel shipments for all products in January were 411,800 net tons, an increase of 42.0 percent from the month before and an increase of 5.7 percent from January 2016. Total steel inventories at the end of the month stood at 1,178,200 tons, up 0.6 percent from last month but down 5.8 percent from […]
Nucor Corporation plans to help the new administration bring manufacturing back to America. It is off to a good start by posting solid earnings results for fourth quarter 2016. Nucor announced consolidated net earnings of $159.6 million for fourth quarter 2016 compared to $305.4 million in third quarter and a loss of $187.5 million a […]
The prices of oil and natural gas drive the consumption of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube as well as equipment used to drill and pump oil and natural gas. Figure 1 shows historical […]
The Metal Service Center Institute (MSCI) released shipment and inventories data for the month of December as well as the full calendar year 2016. Total steel products, carbon flat rolled, steel plate and pipe and tube saw shipments drop and inventories rise during the month of December compared to the prior year. The U.S. steel […]
Total Canadian steel shipments for all products in December were 289,900 net tons, a decrease of 27.2 percent from the month before but an increase of 6.2 percent from December 2015. Total steel inventories at the end of the month stood at 1,170,600 tons, up 7.6 percent from last month and up 0.4 percent from […]
Ferrous scrap price negotiations for January were slow to develop but by late Thursday and into Friday prices firmed and deals between the domestic steel mills and the scrap dealers were getting done. The two largest scrap buyers, David J Joseph (Nucor) and Omnisource (Steel Dynamics), entered the market late during the week at $30 […]
The prices of oil and natural gas drive the consumption of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube as well as equipment used to drill and pump oil and natural gas. On December 12th Gaurav […]
Canadian shipments for all steel products in the month of November were 398,000 net tons, an increase of 11.6 percent from the month before and an increase of 11.3 percent from November 2015. Inventories at the end of the month stood at 1,087,700 tons, up 0.7 percent from last month but down 5.7 percent from […]
CHARLOTTE, N.C., Dec. 15, 2016 /PRNewswire/ — Nucor Corporation (NYSE: NUE) announced today that it has agreed to acquire Republic Conduit, a leading manufacturer of steel electrical conduit in North America, from Luxembourg-based Tenaris S.A. for $335 million, or approximately 6x the average of its 2015 and projected 2016 EBITDA. Republic Conduit’s annual shipment volume […]
Earlier this week the Metals Service Center Institute (MSCI) released end of October shipment and inventories data for the U.S. steel service centers. Total steel shipments (all products) were 3,073,400 net tons which was 8.6 percent lower than October 2015 levels. The distributors shipped 146,400 tons per day which was an improvement over the 145,000 […]
Canadian shipments for all steel products in the month of October were 356,600 net tons, a decrease of 3.8 percent from the month before and a decrease of 6.1 percent from October 2015. Inventories at the end of the month stood at 1,080,600 tons, down 3.2 percent from last month and down 11.2 percent from […]
The prices of oil and natural gas drive the consumption of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube as well as equipment used to drill and pump oil and natural gas. OPEC is in disarray. […]
On Monday, the U.S. Department of Commerce (Commerce) announced its affirmative final determinations in the antidumping investigations of imports of circular welded carbon-quality steel pipe from Pakistan, Oman, the United Arab Emirates, and Vietnam, and the countervailing investigation of imports of the same merchandise from Pakistan. The investigations cover welded carbon-quality steel pipe and tube, […]
Canadian shipments for all steel products in the month of September were 370,800 net tons, an increase of 1.6 percent from the month before but a decrease of 8.5 percent from September 2015. Inventories at the end of the month stood at 1,116,500 tons, down 2.8 percent from last month and down 15.6 percent from […]
The prices of oil and natural gas drive the consumption of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube as well as equipment used to drill and pump oil and natural gas. On October 14th Economy.com […]
Canadian steel service centers shipped a total of 364,800 tons of steel products during the month of August. Compared to the previous year shipments were 6.1 percent lower and the 364,800 ton level was the second lowest shipping month this calendar year (July was the lowest at 318,700 tons). Year to date the Canadian distributors […]
Nucor Corporation announced today that it has agreed to acquire Independence Tube Corporation (ITC), a leading independent manufacturer of hollow structural section (HSS) steel tubing, for $435 million, or approximately 6x average EBITDA over the 2013-2015 period. “Independence Tube is a natural fit with Nucor. Their business model is similar to ours with extremely efficient […]
Tenaris is recalling workers to its Tenaris Algoma Tubes factory in Sault Ste. Marie. The facility which make seamless pipe for the oil and gas industry has been idle since February 8 due to continued adverse market conditions in the energy sector. Tenaris Algoma Tubes said it will recall 120-150 employees and restart production in […]
Wheatland Tube, a division of Zekelman Industries, has filed one of the first allegations of duty evasion under the new ENFORCE Act. The allegation was filed Wednesday with the U.S. Customs and Border Protection (CBP) charging duty evasion by Chinese imports of circular welded steel pipe. The pipe in question is used in solar projects […]
The uncertainty in the market (called the “blahs” by a number of our steel sources) is affecting both buyers and sellers of steel. Steel mills have been doing all that they can in an attempt to keep flat rolled steel prices from slipping too far. One of our mill sources had a sense of humor […]
The price of oil and natural gas have much to do with sales of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube, storage facilities as well as equipment used to drill and pump oil and natural […]
The G20 group of nations released their thoughts regarding excess steel capacity and what they are doing to rectify the situation (essentially they are kicking the can to 2017 when they will meet again and hear from an OECD committee on the subject). China has promised to cut steel production by 45 million metric tons […]
Last week the Metal Service Center Institute (MSCI) reported shipments and inventories for the month of July. We produced an article that normally goes to our Premium level members only last week but, one of our clients requested that we produce the report in the format we normally use for our Executive level members. Here […]
Canadian shipments for all steel products in the month of July were 318,700 net tons, a decrease of 14.8 percent from the month before and a decrease of 14.9 percent from July 2015. Inventories at the end of the month stood at 1,100,800 tons, down 1.8 percent from last month and down 25.6 percent from […]