Flat rolled steel prices remained relatively range bound over the past week with only one product, cold rolled, showing any movement other than sideways. While speaking to steel buyers around the country many of the discussions centered on lead times, demand and what will the mills do next regarding steel prices. The consensus of opinion […]
With the release of the December 2015 Final Census data we thought our readers would like to see not only how imports have fared over the past few years but, how those who are the largest exporters fared as well as those who are involved in the hot rolled, cold rolled and CORE (corrosion resistant) […]
For the week ending February 6, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,685,000 net tons of raw steel, a 1.7 percent increase over the previous week but a 1.2 percent decrease over the same week one year ago. The estimated capacity utilization rate is 71.9 percent, up […]
According to the latest data released from the US Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of December 2015 was 7,878,660 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports and subtracting total US steel exports. December supply […]
Steel exports from the U.S. dropped 17.2 percent in 2015 to an annual total of 9.97 million net tons. The strong U.S. dollar and a recession in Canada contributed heavily to the decline, says the American Institute for International Steel. More than half of U.S. steel exports go to Canada each year. In 2015 the […]
We were reminded recently of an article we produced on February 24, 2015 regarding our theoretical marginal cost of Steel Making (cost will vary by mill and not included in our formula is any adjustment for running at less than 70 percent capacity levels, SA&G are not included, etc.). We were asked if we could […]
Flat rolled steel prices are moving higher albeit at a slow pace – especially for hot rolled coil which continues to be the weakest of the flat rolled products. SteelBenchmarker did not report new prices this week (they only report prices twice per month) so we will review what our index as well as Platts […]
On Friday the U.S. Department of Commerce released Final Census data for foreign steel imports for the month of December 2015. Imports totaled 2,342,582 net tons. We saw very low numbers on semi-finished (mostly slabs) which came in under 300,000 net tons. We also saw low numbers on OCTG, galvanized and other metallic (mostly Galvalume). […]
According to the AISI A7 report, total crude steel production in 2015 was 86,912,000 tons, down by 10.6 percent from 2014. Figure 1 puts this into a historical context with 130 years of data. Peak production was 150,483,000 in 1973 and in that year 26 percent was produced in open hearth furnaces, 18.4 percent in […]
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We saw mixed results for flat rolled steel price ranges and averages this week. We saw modest gains in hot rolled, cold rolled and Galvalume while galvanized remained the same as last week. Lead times remained short on hot rolled which continues to be the weakest product. We are also beginning to see “inquire” only […]
For the week ending January 30, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,657,000 net tons of raw steel, a 0.8 percent decrease over the previous week and a 8.3 percent decrease over the same week one year ago. The estimated capacity utilization rate is 70.7 percent, up […]
We thought our readers might be interested in seeing what steel imports were from the American Institute for International Steel perspective. Steel imports declined 12.6 percent in 2015 according to data analyzed by the American Institute for International Steel. The press release from AIIS follows: Falls Church, VA. February 2, 2016. Steel imports closed out […]
Flat rolled steel prices continue to move higher this past week, based on what we saw in the indices we follow on a regular basis (SteelBenchmarker reported prices this past week). The weakest product continues to be hot rolled which has broken above the $400 level as the mills are pushing for $400-$420 per ton. […]
Foreign steel imports for calendar year 2015 came in at 38,719,343 net tons. This represents a 12.7 percent reduction in tonnage compared to 2014. However, 2015 is still well above the average of imports seen over the past seven years. We saw large reductions in tonnage for semi-finished (mostly slabs), hot rolled, cold rolled, plates […]
Cliffs Natural Resources narrowed its net loss to $58 million in fourth quarter compared to $1.4 billion in Q4 2014. Full year net loss was $748 million compared to $8.3 billion in the prior year. “Despite the severely negative impacts of global iron ore and domestic steel prices, in 2015 we achieved substantial cost reductions […]
Hot rolled prices, which have moved $45 per ton (higher) since early December, did not move this past week. Hot rolled has been the weakest of products which both SDI and AK Steel alluded to in their earnings conference calls earlier today. However, we have seen lead times improve on cold rolled and coated steels […]
For the week ending January 23, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,670,000 net tons of raw steel, a 1.1 percent increase over the previous week but a 7.6 percent decrease over the same week one year ago. The estimated capacity utilization rate is 69.8 percent, up […]
The U.S. Department of Commerce released foreign steel import license data through the 26th of the month late this afternoon. Based on the data to date, January imports are trending toward a 2.5 to 2.7 million net ton level. This would be slightly higher than December’s 2.6 million tons and above November’s 2.4 million tons. […]
Flat rolled steel prices slowly moved higher this past week according to the revisions made to the SMU and Platts steel indexes. Benchmark hot rolled prices were rose $5 per ton on the SMU index taking our number to $405 per ton. Platts kept their $410 per ton number the same on HRC from the […]
In the market analysis questionnaire concluded late last week we asked a number of questions regarding foreign steel and the potential for another uptick in foreign market penetration with the domestic mills raising flat rolled steel prices. We asked if the mill price announcements were opening the door and making foreign steel prices more competitive? […]
The following article is normally produced for our Premium level members, but we wanted to share it with our Executive level members as we think it is important and interesting as the world is flooded with excess steel capacity. If you find this article interesting you may be interested in upgrading your membership from Executive […]
The domestic steel mills announced a new round of price increases earlier this month. Steel prices are responding by moving higher, at least by a portion of the second increase. We are hearing from our sources that the mills have been able to collect $40-$50 or essentially all of the first price increase by this […]
For the week ending January 16, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,652,000 net tons of raw steel, a 3.6 percent increase over the previous week but a 8.6 percent decrease over the same week one year ago. The estimated capacity utilization rate is 69.1 percent, up […]
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The U.S. Department of Commerce released foreign steel import license data for the month of January. Based on license data through the 19th of January steel imports are trending toward a 2.3-2.5 million net ton month. If the trend continues the month would be well below both the 3 month and 12 month moving averages […]
Each month the American Institute for International Steel (AIIS) provides an analysis of steel imports to the U.S. The following January 18 release describes imports for November. Falls Church, VA. January 18, 2016. Steel imports plunged once again in November, dipping to a level more than one-third less than a year earlier. The United States […]
Flat rolled steel prices are beginning to catch some wind behind their backs this past week according to the various steel indices followed by Steel Market Update. Benchmark hot rolled prices moved from a low of $4 per ton (SteelBenchmarker at $386) to as much as $20 per ton (Platts at $410). What is undeniable […]
According to the latest data released from the US Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of November 2015 was 7,710,331 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports and subtracting total US steel exports. Foreign steel […]
Net imports equals imports minus exports. We regard this as an important look at the overall trade picture and its effect on demand at the mill level. Figure 1 shows that net sheet product imports on a three month moving average (3MMA) basis at 546,093 tons in November continue to be more than double that […]