Steel Products
Durable Goods Lose Ground in January
Written by Sandy Williams
March 1, 2013
Written by: Sandy Williams
New orders of manufactured durable goods decreased 5.2 percent to $217.0 billion in January according to Department of Commerce data. The downturn in January followed four consecutive months of increase including a 3.7 percent rise in December. Transportation equipment declined three of the last four months, dropping 19.8 percent from December to $59.7 billion in January.
Shipments of manufactured durable goods dropped after four months of increases to $226.1 billion, a 1.2 percent dip. Transportation equipment shipments showed the largest decrease at 2.3 percent to $64.7 billion.
Unfilled orders for manufactured durable goods in January decreased 0.2 percent to $989.2 billion following a 0.8 percent December increase.
Inventories have been up 15 of the last 16 months and increased 0.2 percent in January to $374.8 billion. Transportation equipment helped drive up the overall inventory for the month, with an increase of 0.9 percent to $115.8 billion.
Nondefense new orders for capital goods in January fell 0.1 percent to $72.2 billion. Shipments decreased 1.7 percent to $70.5 billion. Unfilled orders and inventories increased 0.3 percent and 0.9 percent, respectively.
Defense new orders for capital goods in January dropped 69.5 percent to $4.9 billion. Defense shipments and unfilled orders both fell in January. Inventories were up 0.2 percent to $21.5 billion.
Revised December Data. Revised seasonally adjusted December figures for all manufacturing industries were: new orders, $483.4 billion (revised from $484.8 billion); shipments, $483.4 billion (revised from $484.9 billion); unfilled orders, $991.3 billion (revised from $991.7 billion); and total inventories, $614.9 billion (revised from $615.5 billion).

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]

US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.

Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."

Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.

CRU: Construction of pilot plant for green steel process starts
Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.