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
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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.
Hot-rolled coil sources lament stagnant conditions
Participants in the hot-rolled sheet market expressed frustration with the continuing lack of demand this week.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
ITC’s final ruling: Dumped, subsidized CORE imports are harming domestic market
The US International Trade Commission (ITC) finds that corrosion resistant steel (CORE) imports from 10 countries have caused material damage to domestic product producers, according to the ITC’s statement.
HR buyers report mixed market conditions
Hot-rolled coil market participants said they’re staying on their toes amid a market that continues to be characterized by uncertainty. A veteran Midwest-based service center operator contends that current conditions are unprecedentedly volatile. Being flexible with customers and strategic with mills is the only way to navigate through the uncertainty, he said. “No one wants […]