Imports of hot-dipped galvanized sheet into the U.S. as a whole were down by 10.9 percent year to date through May, according to Steel Market Update’s latest analysis of Commerce and ITC data. SMU now has a comprehensive series of import reports ranging from the first look at license data to the very detailed look […]
This analysis breaks down the imported tonnage of six flat rolled products into the district of entry and the source country. We believe that misinformation (or lack of) about local import volumes is often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going on in a […]
Steel buyers are divided on whether prices have peaked, but most would agree that if they do move higher, any increase will be modest. Steel Market Update canvassed sources this week. Said one executive, expressing a common view: “I don’t see prices rising. I feel we are at the top.” Others anticipate a modest uptick […]
U.S. steel exports in May 2018 totaled 857,673 net tons (778,069 metric tons), flat over April but down 14.8 percent from May 2017 (which was at a 30-month high). Total exports have averaged around 860,000 tons the last few months. The total May export figure is a few thousand tons below the three-month moving average […]
Flat rolled steel prices were stable to moderately lower this week. Benchmark hot rolled coil was unchanged and, along with plate, is the strongest of the products followed by Steel Market Update. Cold rolled and galvanized index averages were lower compared to one week ago, while Galvalume was unchanged. September orders for plate delivered to […]
On Friday, July 6, the U.S. Department of Commerce released Final Census Data on foreign steel imports for the month of May 2018. May imports totaled 2,929,652 net tons, which was 824,335 tons less than the prior month. The import license data collected through July 6 shows June foreign steel imports to be on pace […]
Raw steel production for the week ending July 7 totaled 1,792,000 net tons, a 3.4 percent increase from the same period last year and up 0.6 percent from the previous week. The mill capability utilization rate for the July 7 week averaged 76.4 percent, up from 76.0 percent in the prior week and 74.3 percent […]
Flat rolled steel imports into the United States continue to decline. The three-month moving average (3MMA) for rolled product imports into the U.S. year over year was down by 11.3 percent as of June, according to Steel Market Update’s latest analysis of Commerce Department license data. This is an early look at June’s import volume […]
Raw steel production for the week ending June 30 totaled 1,781,000 net tons, a 1.9 percent increase from the same period last year and up 0.5 percent from the previous week. The mill capability utilization rate for the June 30 week averaged 76.0 percent, up from 75.6 percent in the prior week and 74.9 percent […]
With the price of zinc down considerably from recent highs, buyers of galvanized steel are wondering if the mills will reduce their coating extras anytime soon. The price of zinc on the London Metal Exchange was about $1.33 per pound on June 28. The average for the month of June was around $1.40, down from […]
On Tuesday, the U.S. Department of Commerce reported preliminary steel import license data for May at 2,886,606 net tons, a decrease of 23 percent from the April high and a decrease of 17 percent compared to the same month last year. Updated June license data was also released; taking the daily license rate and spreading […]
Steel Market Update canvassed steel buyers over the past two days and found that flat rolled prices are mixed and plate prices are rising. Two of our flat rolled indices increased over the prior week, and two of them declined, while the plate index rose. Here is how we see prices this week: Hot Rolled […]
We are in the middle of a U.S. holiday week, and the Fourth of July on a Wednesday gave plenty of steel buyers and sellers an excuse for taking the week off, or at least an extended long weekend. Benchmark hot rolled prices were seen as being modestly lower based on the responses received from […]
What are the issues affecting price negotiations? What is the direction of spot pricing? Steel Market Update canvassed the market this week to gather executives’ perspectives. Following are some insightful comments: Q: What are you seeing as the biggest issue affecting price negotiations with your suppliers? A: “Supply is constrained. That is the biggest issue.” A: […]
Raw steel production for the week ending June 23 totaled 1,772,000 net tons, a 1.4 percent increase from the same period last year and up 1.8 percent from the previous week. The mill capability utilization rate for the June 23 week averaged 75.6 percent, up slightly from 74.2 percent in the prior week and 74.9 […]
Argentina-based Tenaris announced last week it will begin producing pipe again at its mill in Conroe, Texas. The Conroe mill has been shuttered for the past three years after operations were suspended due to the plummeting oil prices and competition from imported pipe. Select areas of the mill will be restarted beginning with the heat […]
On Tuesday evening, the U.S. Department of Commerce releases the import licenses collected by product and by country through that date. This week, the licenses were reported for the first 19 days of June 2018. After looking at the data (see story about June import trend in tonight’s issue of SMU), the head of commercial […]
On Tuesday, the U.S. Department of Commerce reported foreign steel import license data for the first 19 days of June. The data is indicating to Steel Market Update a significant drop in imported foreign steel. Taking the daily license rate and spreading it across the 30 days of June, we see the month trending toward […]
Raw steel production for the week ending June 16 totaled 1,740,000 net tons, a 0.4 percent decrease from the same period last year and down 0.7 percent from the previous week, but little changed from week to week since briefly topping the 1.8 million ton mark in March and April. The mill capability utilization rate […]
Earlier this week, the Department of Commerce reported license data for the month of June 2018. Based on licenses through June 12, the trend is for June foreign steel imports to come in around 2.1 million net tons. If the pace of actual receipts matches the pace of the licenses seen so far this month, […]
Flat rolled and plate steel prices remained essentially unchanged over the past seven days. As one steel buyer commented to Steel Market Update last week, the steel mills seem to be content at the current price levels and they don’t want to be seen as getting “greedy.” This doesn’t mean they won’t try to get […]
Steel Market Update canvassed flat rolled and plate steel buyers over the past two days and discovered hot rolled coil is by far the strongest product, followed by demand for plate. Both are connected to the energy markets, which are very strong right now. Our sources are also telling us construction, especially commercial construction, is […]
This Steel Market Update analysis breaks down the imported tonnage of six flat rolled products into the district of entry and the source country. We believe that misinformation (or lack of) about regional import volumes is often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going […]
Raw steel production for the week ending June 9 totaled 1,753,000 net tons, a 0.3 percent increase from the same period last year, but down 0.1 percent from the previous week. Weekly raw steel production has leveled out at an average around 1.77 million tons since briefly topping the 1.8 million ton mark in March […]
Total rolled steel product imports declined in May, but increased by 24.1 percent from March through May, compared with the prior three-month period. Total rolled steel product imports in May declined by 18.8 percent following April’s 17.0 percent increase. Sheet products were down by 22.6 percent, longs were down by 8.9 percent and tubular goods […]
Cleveland Cliffs will no longer have a stake in Australian iron ore mining. The company announced on Tuesday that it will sell all of the assets of its Asia Pacific Iron Ore business to Australian mining company Mineral Resources Limited. The sale continues Cliffs’ strategy to concentrate on assets in the United States. The transaction […]
Both manufacturing companies and steel service centers reported a rebound in support for higher spot prices out of the distributors to their end customers. Respondents to our inquiries on the subject reported to SMU that the elimination of the exclusion status for Canada, Mexico and the European Union was the main culprit impacting flat rolled […]
April apparent steel supply fell 1.1 percent over March to 9,829,298 net tons, according to the data released late last week. Although down this month, supply remains strong in comparison to the last three years or so. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total […]
Final steel imports for the month of April were reported at 3,753,987 million net tons, according to the U.S. Department of Commerce data released yesterday. The last time import levels were this high was June 2017 with 3,923,126 tons. April imports are up 12.6 percent compared to the previous month, and up 12.0 percent compared […]
U.S. steel exports in April 2018 totaled 861,004 net tons (781,091 metric tons), down 0.9 percent from the month before, but up 0.4 percent from April 2017. Total exports have averaged around 835,000 tons over the last few months. The total April export figure is above the three-month moving average (average of February 2018, March […]