Steel Markets

June Auto Sales Exceed 17 M SAAR for Second Month
Written by Sandy Williams
July 2, 2015
US light vehicle sales in June reached a seasonally adjusted annual rate of 17.1 million, the first time consecutive months were above 17 million since June and July of 2005. The SAAR was slightly below expectations and came in at the bottom of the consensus range (17.1 M to 17.8 M) posted by Bloomberg.
Actual volume for the month totaled 1.47 million units, with small and mid-size trucks leading sales. Sales for the first half of 2015 were at a 10 year high of 8.49 million, up 4.4 percent from 2014.
“We just wrapped up the U.S. auto industry’s best six months in a decade, driven by strong demand for pickups and crossovers,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “People feel good about their jobs and the direction the economy as a whole is taking, so the second half of the year should be strong too, and that’s especially good news for Chevrolet and GMC, brands that have very broad truck and crossover portfolios.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...

Great Lakes iron ore cargoes down in September as Cleveland tonnage slips
Iron ore shipments from US Great Lakes ports fell sharply in September, per the latest from the Lake Carriers’ Association (LCA) of Westlake, Ohio.

HVAC equipment shipments down through August
Although total HVAC shipments fell in August, YTD volumes remain relatively strong. Nearly 15 million units were produced in the first eight months of the year, the fourth-highest rate in our 19-year data history.

Sheet market sources slam tariffs for prolonged demand slump
Tariffs are ultimately to blame for stagnant demand in the hot-rolled coil market, domestic market sources tell SMU.

Week in Review: Sept. 29 -Oct. 3
Let’s take a quick tour of some key stories from SMU in the week of Sept. 29 - Oct. 3.