Steel Markets

October US Auto Sales Up 6%
Written by Sandy Williams
November 3, 2014
October U.S. auto sales reached an annualized rate of 16.35 million according to WardsAuto with actual sales totaling 1,273,138 units. October deliveries were up 6 percent on a seasonally adjusted annual rate compared to October 2013.
“October was another strong month for the automotive sector, driven by a combination of low fuel prices, available credit and the ongoing pent-up demand factor. The average car on the road remains more than 11 years old,” said Karl Brauer, senior analyst at Kelley Blue Book.
Ford sales were down as expected due to plant changeovers for the aluminum 2015 F-150. Chrysler was a big winner for the month with sales up 22 percent year over year. General Motors sales were essentially flat with a 0.2 gain from October 2013.
Toyota sales were up 7.5 percent while Hyundai saw a decline of 6 percent. “While we struggled in a couple of segments, our compact and midsize-CUV’s continue to outpace the overall industry,” said Bob Pradzinski, vice president of US sales at Hyundai.
Volkswagen finally had a positive month with sales up 7.8 percent to 30,313 units.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

USW cheers Evraz NA agreement with Atlas Holdings
The United Steelworkers (USW) labor union celebrated recent news of the signed agreement between Atlas Holdings and Evraz NA in which the Connecticut-based private equity company said it plans to acquire North America’s Evraz facilities.

Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.

Hot-rolled coil buyers continue seeking certainty
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.

Latin American steel advocates warn on cheap import flood
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.

CRU: Steel prices fall amid global demand weakness
The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.