Market Data
March 15, 2024
February service center shipments and inventories report
Written by Estelle Tran
Flat Rolled = 56.6 Shipping Days of Supply
Plate = 58.8 Shipping Days of Supply
Latest in Market Data
US mill shipments flat m/m in August, up y/y
Domestic mills shipped roughly the same amount of steel in August as they did in July, according to the latest figures from the American Iron and Steel Institute (AISI). US mills shipped 8,220,544 short tons (st) in August, up marginally from 8,219,549 in July, AISI said. But while the month-over-month (m/m) comparison was roughly flat, year-over-year (y/y) comparisons point to a significant increase in domestic shipments.
US shipments of heating and cooling equipment slow further in August
Total shipments of heating and cooling equipment cooled further in August, according to the latest figures from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). After falling 11% month on month (m/m) in July, shipments slipped another 10% in August. The monthly pace marks the third-slowest shipment rate year-to-date. Shipments of water heaters, air conditioners, and heat pumps declined m/m, while warm-air furnace shipments picked up. Compared with a year earlier, only air conditioners and heat pumps increased.
US steel exports slip in August to 6-month low
US steel exports fell 3% from July to August, continuing the decline from June’s 17-month high, according to recently released US Department of Commerce figures. Exports have been historically low for over a year and remain weak in comparison to volumes seen across 2022-2024. August trade was down 2% compared to the same month of 2025, 25% lower than August 2024, 29% lower than August 2023, and 21% lower than August 2022.
AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026
Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.
worldsteel expects steady global steel demand in 2026, growth in 2027
The World Steel Association (worldsteel) forecasts flat steel demand in 2026, as contraction in China and disruption in the Gulf region offset growth in India and other markets, including the US. Global demand is expected to rise slightly in 2027. The Brussels-based association’s Short Range Outlook (SRO) for 2026 pegs global steel demand at 1,722 million metric tons (mt), essentially unchanged from 2025. For 2027, worldsteel forecasts 1.7% growth to 1,752 million mt. “The trajectory we set out in April holds, but the anticipated recovery is proving slower and more gradual than we had expected,” commented Alfonso Hidalgo de Calcerrada, chair of the worldsteel Economics Committee. “Global steel demand is now forecast to be flat in 2026 rather than to grow modestly, and to grow by 1.7% in 2027 rather than 2.2%. Almost the whole of that revision is a China story,” Calcerrada added.