Steel Markets
April US Auto Sales Highest Since 2006
Written by Sandy Williams
May 4, 2015
US automotive sales finished April at a seasonally adjusted annual rate of 16.4 million. Sales were slightly below expectations but still the highest April sales level since 2006.
Sales volume for the month was at 1.448 million units, according to WardsAuto, a gain of 4.9 percent y/y. Light trucks and CUVs continued to lead sales as consumers enjoy low fuel prices and a favorable credit terms.
Sales of the new Ford F-150 were up 8 percent with plant change over and ramp up continuing.
General Motors announced it will invest $5.4 billion in plant improvements during the next three years. GM says the “investment translates to GM investing in U.S. operations about $5 million a day or $150 million every month for the next three year.”
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.