Tag: US

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.

Construction spending in the US in June was slightly lower, declining for the second straight month. Despite the decline it increased notably year on year (y/y).

US drill rig activity resumed its downward trend last week according to the latest data from Baker Hughes. Meanwhile Canadian counts ticked higher for the fifth consecutive week. They now stand near a five-month high.

What a difference a week makes! SMU has shifted its sheet momentum indicators from “lower” to “neutral”. And we’ll be on the lookout for evidence of higher prices in the weeks ahead.

SMU’s sheet price was largely flat this week, an unusual sight for the better part of the past four months. The same trend was seen for tandem products and plate as well.

Pennsylvania Governor Josh Shapiro has come out against Nippon Steel’s proposed buy of U.S. Steel because it doesn’t have union support, according to media reports.

Former U.S. Steel executive Kenneth Jaycox is moving from steel to the automotive parts industry.

When we last talked to Jared Rowe in May, he had just been appointed Reibus International's new CEO and chairman of the board. Now two months into the job, SMU caught up with him on our July 24 Community Chat for the latest on the online metals marketplace.

Japan’s Nippon Steel announced it was withdrawing from a joint venture (JV) with China's Baoshan Iron & Steel (Baosteel) that served the Chinese automotive industry.

Nearly 1,200 people have registered for SMU Steel Summit, which is less than a month away now. That means we’re still on pace to meet or exceed last year’s record attendance despite a tough flat-rolled steel market over the last few months. So, a big thank you to everyone who already plans to go for your continued support. If you haven’t booked travel yet, don’t miss out on one of the greatest shows in steel – register here. (You can also check out the latest agenda here.)

GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.

A roundup of aluminum news from CRU.

Drilling activity rose in both the US and Canada last week, according to the latest data release from Baker Hughes. US rig activity increased to a six-week high but remains near multi-year lows. Canadian counts continue to improve, now at a 20-week high.

Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).

Cleveland-Cliffs announced on Friday that it would seek $670 per short ton (st) for hot-rolled (HR) coil. The steelmaker said the move was effectively immediately. It coincides with the opening of the company’s HR order book for September.

SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?

Summer is here, and a familiar sentiment has hit the hot-rolled coil (HRC) futures market. Prices continue to decline in both the spot market and the futures market, with expectations of sub-$800 prices for the remainder of the year.

The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.

Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.

SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]