Tag: US

SMU’s flat-rolled steel prices were mixed this week with slight declines across most products and a modest increase in prices for cold-rolled coil.

US housing starts moved lower through October, declining for a second straight month after peaking in August, according to the latest data release from the US Census Bureau. Total housing starts stood at a seasonally adjusted annual rate (SAAR) of 1.31 million units in October, a 3.1% dip from September’s 1.35 million units. At the […]

North American auto assemblies rallied in October, rising 11.3% above September, reaching the best output year to date. Assemblies were also up 7% year on-year (y/y), according to LMC Automotive data.

Sheet lead times are stable to slightly extended compared to late-October levels, but are down for all products relative to production times one month ago.

Nucor’s weekly consumer spot price (CSP) for hot-rolled coil was unchanged week on week at $740 per short ton as of Monday, Nov. 4.

After closing the third quarter -3.84% on a y/y basis, our first look at fourth-quarter flatbed spot rates puts us virtually flat y/y, coming in at -0.68%.

September marked the lowest month for steel imports so far this year, according to preliminary Census data released by the Commerce Department.

The volume of finished steel entering the US market declined in August from July, according to SMU’s analysis of data from the US Department of Commerce and the American Iron and Steel Institute (AISI). Referred to as ‘apparent steel supply,’ we calculate this monthly rate by combining domestic steel mill shipments and finished US steel imports and deducting total US steel exports.

Prices, demand, inventories, evolving market events... What are buyers and sellers of steel talking about this week?

August now represents the second-highest monthly shipment rate recorded in the last two years, just below the 2.16 million units rate recorded in June.

North American auto assemblies fell by nearly 7% from August, but were still ahead of July’s 20-month low. Assemblies were also down just under 1% year on year (y/y), according to LMC Automotive data.

US light-vehicle (LV) sales fell to an unadjusted 1.17 million units in September, down 12.8% from a year ago, the US Bureau of Economic Analysis (BEA) reported. Despite the year-on-year (y/y) drop, domestic LV sales rose 3.3% month on month (m/m).

US drill rig activity saw a slight increase from last week but continues to hover near multi-year lows. In Canada, rig counts dipped last week but near one of the highest levels recorded in the past seven months.

SMU’s Steel Buyers’ Sentiment Indices moved in different directions this week. Our Current Steel Buyers’ Sentiment Index eased to a six-week low, while Future Buyers’ Sentiment ticked up to a four-week high. Both of our Indices continue to indicate optimism among steel buyers.

Negotiation rates have consistently been in the 70-80% range for over two months, relatively strong in comparison to levels seen across the past year.

US drilling activity remains near multi-year lows, while Canadian counts increased to one of the highest levels recorded in seven months.

SMU’s monthly review provides a summary of important steel market metrics for the previous month. This latest report includes data updated through Sept. 30.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Steel prices ticked higher this week for most of the sheet products SMU tracks, back up to highs last recorded in June and July. Meanwhile, plate prices edged lower following three weeks of stability.

US manufacturing activity contracted for the sixth consecutive month in September, according to the latest report from the Institute for Supply Management (ISM). The index has indicated a contracting industrial sector for 22 of the past 23 months.

Bull Moose Tube Co. (BMT) will expand its steel pipe and structure operations with a $25 million plant in Gerald, Mo., according to The Economic Times.

The Chicago Business Barometer increased marginally in September but continues to indicate deteriorating business conditions.

In this Premium analysis we cover oil and natural gas prices, drilling rig activity, and crude oil stock levels in North America. Energy prices and rig counts are advance indicators of demand for oil country tubular goods (OCTG), line pipe, and other steel products.

The amount of raw steel US steel mills produced last week slipped to the lowest rate recorded since early July, according to the latest release from the American Iron and Steel Institute (AISI).

US rig counts remain near multi-year lows, which is the territory they have been in for the last three months. Canadian counts have edged lower in the past two weeks, slipping from a six-month high earlier this month.

The latest Federal Reserve data paints a healthy and stable manufacturing sector. Steel Market Update is pleased to share this Premium content with Executive members.

The August Architecture Billings Index (ABI) continued to indicate weak business conditions amongst architecture firms through August, according to the American Institute of Architects (AIA) and Deltek.

SMU’s steel price indices were steady to higher this week. Each of our sheet indices crept upwards from last week, while our plate index was unchanged.

New York state saw a recovery in manufacturing activity in September, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

US light-vehicle (LV) sales improved to an unadjusted 1.42 million units in August, up 7.6% from a year ago, the US Bureau of Economic Analysis (BEA) reported.