Steel Markets
August U.S. Auto Sales Show Strong Gains for Asian Manufacturers
Written by Sandy Williams
September 5, 2019
August U.S. auto sales, minus the non-reporting Detroit Big 3, grew 12.2 percent from a year ago. Sales were strong for Asian manufacturers with most reporting double digit gains.
Honda led the sales increase in August posting an 18 percent gain year-over-year. Nissan was next at 13 percent, followed by Hyundai at 12 percent and Toyota at 12 percent.
Edmunds estimates total deliveries may have jumped seven percent last month, helped by the Labor Day holiday and lower financing.
“Consumers continue to shake off the political and trade turbulence because the economy remains on solid, if somewhat slowing, footing,” said Jeff Schuster, president of global vehicle forecasts at LMC Automotive. “This foundation, combined with higher fleet volume in the first half of the year, will keep the industry above 17 million units for a fifth year in a row.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Great Lakes iron ore shipments declined in August
Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
CRU: US longs market holds steady despite tariff pressures
he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.
Sheet market participants say sales still in a slump
Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.