Steel Markets

Auto Sales Still Robust in January
Written by Sandy Williams
February 3, 2020
Automotive sales were up year-over-year for most automakers that reported data for January. Sales last month rose 1.0 percent to a seasonally adjusted annual rate of 17.1 million vehicles, according to auto research firm Edmunds.
Automotive sales declined 1.6 percent in 2019 to 17.1 million vehicles. Edmunds expects sales for 2020 to be flat, but Cox Automotive and LMC Automotive are less optimistic. Analysts at those two companies are predicting sales closer to 16.7 million for this year, breaking the five-year run of 17 million or more.
“This year is starting with less trade uncertainty in the auto sector than in 2019 and, while economic growth is expected to hover just under 2 percent, there could be some upside with trade being less of a drag and it being an election year,” commented Jeff Schuster, president, Americas Operations and Global Vehicle Forecasts, LMC Automotive. “Affordability remains a major concern for the U.S. auto market as transaction prices have continued to rise and used vehicles are a viable substitute for some consumers, especially entry-level buyers.”

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.