Steel Markets
November Auto Sales Reach 18M SAAR for 3rd Month
Written by Sandy Williams
December 2, 2015
U.S. auto sales reached 1.32 million vehicles in November, a 1.4 percent increase. The seasonally adjusted annual rate according to WardsAuto, was 18.12 million vehicles, the third consecutive month above a SAAR of 18 million units. WardsAuto estimates that December sales will have to reach 1.7 million units to get a fourth consecutive month at 18 million SSAR.
Continued low gas prices, higher incentives and holiday marketing contributed to a strong November turnout by consumers.
Ford sales lagged behind the other two Detroit automakers at a .3 percent increase year over year. General Motors increased sales by 1.5 percent and FCA US had a good showing with a 3 percent increase.
Volkswagen sales suffered from the recent diesel fuel scandal with sales sliding downward 24.7 percent.
Ford Motor Co. is investing $1.3 billion at the Kentucky Truck Plant in Louisville to build the new aluminum-body Super Duty truck. The facility upgrade will add 2000 jobs. The investment is part of a trend to keep high profit models manufactured in the U.S. while moving production for smaller vehicles to lower-wage countries like Mexico.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Buyers say plate market rejected last round of mill hikes
Participants in the domestic steel plate market said the plate market never accepted mill-issued spot price increases.
Cliffs touts steel stamping solution to replace aluminum in automotive
Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,
Hot-rolled market anticipates no change despite mill mark-ups
Domestic sheet market participants say recent spot price hikes from NLMK USA and Nucor will do little to shake-up stagnant market conditions. Price increases in the current market On Friday Oct. 24, NLMK customers learned that the producer’s hot- and cold-rolled prices increased $50 per short ton (st) and its coated products were $100/st higher. […]
Market sources say regional activity is dictating plate demand
Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.
AISI: Raw steel production bounces back
Domestic mill production rebounded last week, according to the latest production figures released by the American Iron and Steel Institute (AISI). Production had been historically strong over the summer months before softening in early October.