Through October 2018, of the total cold rolled sheet and strip imports into the U.S., only 2.8 percent was strip, while 44.3 percent of the CR sheet imports were >1 to 3mm thick and 49.8 percent was full hard. Premium subscribers to Steel Market Update receive reports on imports broken down into district of entry […]
Net job creation in November totaled 155,000 positions. This was a correction from the very strong result in October, according to Steel Market Update’s latest analysis of Bureau of Labor Statistics employment data. Table 1 breaks total U.S. employment down into service and goods-producing industries and then into private and government employees. Most of […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories through October. Table 1 shows total supply to the market in three months through October and in 12 months through October for the four product groups and the 16 subcategories. Supply to the market is the total of domestic […]
We are quickly sliding toward the Christmas Holiday and the New Year. I guess this means I will need to do some shopping (and shipping) over the next 24 hours or lose my good standing as a father… Over the next couple of publications, we will write about this year through the rear-view mirror. 2018 […]
It seems like forever since I have been in the office for a full week. Well, this week is one of the rare occasions. A little home time as we run up to the Christmas and New Year’s holidays. A note about our publication schedule as we will be taking some time off between Christmas […]
JSW Ohio tried to run their EAF and caster today, but found they needed a couple of small fixes. The goal is now to melt their first heat and cast their first slab tomorrow (Friday). We continue to watch this closely as there will be an impact on the market once the mill has been […]
A couple of comments regarding possible price increase announcements as we go into first-quarter 2019 made today as I canvassed the flat rolled and plate steel markets pricing. “Mills appear to be much more sanguine on prices than I’ve seen in a while. I’m hearing them say that once all of the mills are done […]
Flat rolled steel service centers who responded to last week’s SMU flat rolled and plate steel market trends questionnaire are reporting in increasing numbers their service center as lowering spot prices to their customers. One month ago (early November) only 32 percent of the flat rolled distributors were reporting lower spot pricing to their customers. […]
The latest jobs report from the Department of Labor showed fewer jobs were added in November than expected. The U.S. economy added 155,000 jobs and the unemployment rate remained steady at 3.7 percent. Economists expected the report to come in at about 190,000 jobs for the month. The three-month average was 170,000. Construction employment increased […]
Total heating and cooling equipment shipments in October rose 10.2 percent compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Wednesday. Aside from the 5.1 percent slip in September, total monthly equipment shipments on a year-over-year basis had increased every month since October 2016. Residential and […]
JSW Ohio (former Mingo Junction mill) has been struggling to get their existing electric arc furnace (EAF) up and running. It was supposed to have fired up last week, but we were told there is an issue with the oxygen, and the new ETA first heat date is Monday or Tuesday of this week. I […]
About 60 percent of respondents to Steel Market Update’s market trends questionnaire feel their chances for success are good, if not excellent, given the current business conditions and their views of the next three to six months. Nearly all the rest consider their prospects only fair. Uncertainty on the trade and economic fronts, and perhaps […]
Lead times for spot orders of hot rolled and cold rolled steels appear to have bottomed and extended a bit in early December. Lead times on HR and CR have not been this long since September, but are well below the levels seen when prices were spiking earlier this year. Lead times for steel delivery […]
Twice per month Steel Market Update canvasses the flat rolled and plate steel markets as we look to identify key market metrics. One of those is whether the steel mills are working with their steel buying customers and are they willing to negotiate steel pricing for orders placed this week for delivery based on existing […]
Construction in the United States is experiencing strong growth led by nonresidential building and infrastructure expenditures, according to Steel Market Update’s analysis of the latest Commerce Department Construction Put in Place data. On Dec. 3, Commerce released CPIP expenditures data for October. The growth of total construction on a rolling 12-month basis year over year […]
It has been a busy week for Steel Market Update. I spoke at the HARDI annual conference in Austin, Texas, on Sunday and I was in Atlanta on Tuesday evening and Wednesday working with our web developers. I am in the office on Friday. Next week I will be in Toledo, Ohio, on Monday through […]
Dropping sedans from its lineup proved to be a smart move for Fiat Chrysler. Sales in November jumped 17 percent as sales of the Ram pickup surged 42 percent and sales of SUV models gained 20 percent or more. “The market continues to abandon cars, with no end in sight,” said Karl Brauer, executive publisher […]
I took our coated numbers down pretty hard this week. I had been collecting lower numbers over the past few weeks. However, they would pop up sporadically. Come and go for no reason other than a mill decided that the order was too good to pass up, that it fit a hole or that at […]
It has been a beautiful weekend in Austin, Texas, where I spoke earlier today (Sunday) at the annual HARDI conference. I spoke at the steel council, which consists of HVAC wholesalers who sell galvanized sheet/coil products, manufacturers supplying the wholesalers and a couple of service centers who sell galvanized sheet and coil to the wholesalers. […]
Returns from Steel Market Update’s market trends questionnaire show a growing percentage of manufacturing companies reporting service center spot pricing on flat rolled products as being lower than what they saw at the beginning of November. Seventy-three percent of the manufacturing respondents reported seeing slipping spot prices this past week. This is an increase of […]
Sales of new single-family homes dropped 8.9 percent to a seasonally adjusted annual rate of 544,000 from an upwardly revised September estimate of 597,000 units, according to the latest data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. October sales were at the lowest sales pace since December 2016 […]
We had a great webinar on Wednesday, despite some technical glitches. I am looking forward to making webinars a standard practice for Steel Market Update. We do not yet have a date/subject set up for the next webinar. I am traveling this weekend and early next week. I will be speaking on Sunday morning in […]
General Motors announced Thursday that it will stop production at five North American assembly plants by the end of 2019, alarming workers and suppliers. The closings include Detroit-Hamtramck, Warren Transmission and Lordstown Assembly in Ohio, Oshawa Assembly in Ontario and Baltimore Operations in Maryland. It will be the first closure for GM since 2010. The […]
Home price increases are slowing, according to the latest S&P CoreLogic Case-Shiller Index. The National Home Price NSA Index reported a 5.5 percent annual gain in September, down from 5.7 percent in August and the second consecutive decline. Sixteen of the 20 cities reported smaller annual price gains. Gains are now at the lowest level […]
The announcement by General Motors today is going to be a precursor for more bad news, in my opinion. With every action there is a reaction, and the expectation that raising steel prices by an extra 25 percent (and more) would not have an impact on the competitiveness of U.S. made products is being short-sighted. […]
The attitudes of steel buyers and sellers, as measured by this week’s SMU Steel Buyers Sentiment Index questionnaire, show mixed feelings in the marketplace following the midterm elections. Current Sentiment was an impressive +65 measured as a single data point. Future Sentiment dropped -7 points to +58. Both are well within the “optimistic” side of […]
Lead times for most flat rolled steel products are at or near their shortest of the year. Lead times for steel delivery are a measure of demand at the mill level—the shorter the lead time, the less busy the mill. The less busy the mill, the more likely they are to negotiate on price. Responses […]
Steel mills remain open to price negotiations on hot rolled, cold rolled and coated products, but not plate, report buyers canvassed by Steel Market Update this past week. Steel Market Update tracks how buyers and sellers of flat rolled and plate steel characterize price negotiations with the mills. The steelmakers’ greater willingness to compromise on […]
Two out of three respondents to Steel Market Update’s market trends questionnaire this week said they remain concerned about the possible negative impacts of trade tariffs on their business and that of their customers. The Section 232 tariffs on imports of steel and aluminum remain a serious obstacle to the new North American free trade […]
After six months of decline, existing-home sales showed some improvement in October. Completed transactions for single-family homes, condos, townhomes and co-ops increased 1.4 percent from September to a seasonally adjusted annual rate of 5.22 million, according to data from the National Association of Realtors. The increase was tempered by a 5.1 percent drop in sales […]