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
CRU: Global sheet prices remain under pressure as exporters undermine domestic markets
One cause of this was increased competitiveness from imports that have put pressure on some domestic producers.
CRU: Sheet import demand softens as domestic price gains have slowed
US domestic sheet price gains have begun to slow as previously pulled-forward demand has led to a decline in orders.
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.