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
US construction spending drops again in August
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]
Global steel production eases in August
Steel mill output around the world totaled 144.8 million metric tons (mt) in August, the lowest monthly rate of 2024.
Dismal ABI suggests weakness in non-res construction will persist
The August Architecture Billings Index (ABI) continued to indicate weak business conditions amongst architecture firms through August, according to the American Institute of Architects (AIA) and Deltek.
AISI: Raw steel production slips to 5-week low
Domestic raw steel mill production eased last week but remains at a healthy rate, according to the latest release from the American Iron and Steel Institute (AISI).
Plate report: Prices getting closer to pre-Covid norms
The US plate market finds itself in unfamiliar territory, well maybe unfamiliar territory for this side of the post-Covid “normal,” that is.