Steel Markets
Auto Sales Recover from Slow Start
Written by Sandy Williams
May 1, 2014
Automotive sales were encouraging in April, with most auto manufacturers posting positive gains year over year. WardsAuto reports sales totaled 1.37 million units compared to 1.18 million in April 2013. Sales reached a seasonally adjusted annual rate (SAAR) of 16.0 million for the second consecutive month.
Consumers demand is supported by low interest rates and leasing deals as well as a slew of new models introduced for 2014.
The massive recall at GM failed to dampen sales in April. General Motors posted a 7 percent gain year-over-year, taking an 18 percent share of the market.
Ford sales fall 1 percent below April 2013 levels, hurt by lower industry fleet orders and weaker demand on passenger cars and light trucks. Volkswagen US sales were down 8.4 percent for the month bringing its year to date total 10.4 percent below sales for the first four months of 2013.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
GrafTech’s Q2 loss widens in ‘challenging’ business environment
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
Op-Ed: The myth of the Mexican steel surge
We have heard ominous warnings about a flood of Mexican steel threatening the US market. It's the kind of rhetoric that gets thrown around often with little regard for the facts. The reality is that the Mexican steel surge is simply not happening, and the US steel industry has consistently maintained a significant trade surplus in finished products with Mexico. In 2023 alone, this surplus exceeded $3 billion.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
Influx of coated products fuels recent import surge
Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.