Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/42db7be76b22639f38bd06ea143e855a.jpg)
October Auto Sales Better Than Expected
Written by Sandy Williams
November 2, 2017
Hurricane recovery, fleet sales and rental car companies contributed to a strong month for U.S. auto sales. Pickup trucks and SUVs continue to be snapped up by consumers.
“We did see continued hurricane replacement at the beginning of the month,” Michelle Krebs, an analyst at car-shopping website Autotrader, told Bloomberg. “The economic factors are also in trucks’ favor. People are back to work and construction activity is up, which is good for truck sales.”
Ford, Toyota, Nissan and Volkwagen all reported increases in October. General Motors’ sales declined 2.2 percent, while FCA U.S. sales dropped 13 percent following a 43 percent cut in fleet sales.
Total sales are expected to reach 1.35 million vehicles in October for a seasonally adjusted annual rate of 18 million units, according to WardsAuto. The October SAAR exceeds sales of 17.8 million in 2016, but is less than September’s 18.48 million mark.
“We are heading into the fourth quarter with good momentum, thanks to a strong U.S. economy and very strong pickup and crossover sales,” says Kurt McNeil, vice president-U.S. sales operations at GM.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/GrafTech.jpg)
GrafTech’s Q2 loss widens in ‘challenging’ business environment
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/06/canacero-logo.png)
Op-Ed: The myth of the Mexican steel surge
We have heard ominous warnings about a flood of Mexican steel threatening the US market. It's the kind of rhetoric that gets thrown around often with little regard for the facts. The reality is that the Mexican steel surge is simply not happening, and the US steel industry has consistently maintained a significant trade surplus in finished products with Mexico. In 2023 alone, this surplus exceeded $3 billion.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/graph_up_arrow.png)
Influx of coated products fuels recent import surge
Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.