Tag: US

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.

July represents the second-lowest monthly rate for steel imports so far this year.

Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).

SMU indices moved higher on cold rolled products this week, while galvanized prices were flat. Our indices for plate, hot rolled, and Galvalume all edged lower.

North American auto assemblies slumped by more than 14% from June, falling to a 20-month low in July. Assemblies were also down 1.5% year on year (y/y), according to LMC Automotive data.

US light-vehicle (LV) sales slipped to an unadjusted 1.273 million units in July, down 2% vs. a year-ago, the US Bureau of Economic Analysis (BEA) reported. The year-on-year (y/y) decline in domestic LV sales came despite a 4.2% month-on-month (m/m) rise.

Russel Metals has completed the acquisition of seven service center locations from Samuel, Son, & Co.

Specialty steel maker Metallus, formerly known as TimkenSteel, has officially begun work on a bloom reheating furnace at its Faircrest plant in Ohio.

Shipments of heating and cooling equipment moved higher in June, according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). June shipments increased 10% month on month (m/m) to 2.16 million units. This was a 7% boost over the same month last year. June represents the best monthly shipment rate year-to-date, […]

Another month for hot-rolled (HR) coil, and another disappointing one for the bulls. They are still holding onto hope that the bottom is here and still pointing to an imminent uptick in HR prices.