Steel Markets

Auto Sales End Year Over 17 Million
Written by Sandy Williams
January 4, 2018
Annual auto sales reached 17.13 million vehicles in December, according to WardsAuto, making it the third year in a row the industry has topped 17 million, but breaking the industry’s growth streak. It was the first time annual sales declined since the recession eight years ago.
Actual December sales were reported as 1.596 million units by WardsAuto. Truck sales took 69 percent of the market in December, and nearly two-thirds of the year’s total sales.
GM economist Mustafa Mohatarem forecasts U.S. auto sales will be in the upper 16 million range for 2018. He predicts tax reform gains will be offset by rising interest rates. Other manufacturers play down the impact of interest rates, banking on consumers seeing more money in their monthly checks and taking advantage of dealer incentives. IHS Markit projects sales of 16.9 million vehicles for this year.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

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.

US sets Section 232 tariffs on trucks and buses
Medium- and heavy-duty trucks (MHDV) and buses imported to the US will start being charged Section 232 tariffs beginning Nov. 1.

Hot-rolled sources say demand continues to dwindle, prices feel arbitrary
Genuine demand, they stated, will return when the market feels stable again.

FabArc Steel Supply completes projects in Mississippi, Georgia
FabArc Steel Supply announced this week the completion of two large-scale projects in Georgia and Mississippi.

Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.