Demand for design services from architecture firms in the U.S. improved for the eighth consecutive month, according to the latest report from The American Institute of Architects (AIA). AIA’s Architecture Billings Index rose from 55.6 in August to 56.6 in September. The ABI has expanded each month since January. The index for new project inquiries […]
Now is a good time to think about protecting your business. Steel Market Update’s Introduction to Steel Hedging: Managing Price Risk course will introduce you to hedging principles and give you a solid foundation, so you can learn how to protect your business and minimize the risk associated with unfavorable price changes. In just two […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days. Through Oct. 20, zinc prices shot up 24% over one month prior, iron ore prices rebounded 18% in one month’s time, aluminum prices rose 9%, and coking coal prices increased 8%. In that same time […]
Steel Market Update’s check of the market this week shows another small decrease for hot rolled steel prices. The hot rolled price has dipped three of the last four weeks by a total of $45 from the high of $1,955 per ton in the first week of September. SMU is changing its Hot Rolled Price […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
The Energy Information Administration’s October Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing recovery from the COVID-19 pandemic. That big caveat aside, the increase in economic activity continues to contribute to rising energy use. EIA expects average expenditures for heating fuels to increase significantly in the next several months from […]
Cheaper foreign hot rolled steel imports continue to tempt U.S. buyers over steel produced domestically, holding potential discounts of 25-43%, according to Steel Market Update’s latest foreign versus domestic hot rolled steel price comparison. Foreign hot rolled steel prices are now theoretically $483-832 per ton cheaper than domestic steel, after taking freight costs, trader margins […]
Flat rolled and plate steel prices were flat to down slightly this week with the exception of a small increase in cold rolled, according to Steel Market Update’s check of the market on Monday and Tuesday. The small ups and downs in steel prices over the past month are in line with most buyers’ expectations […]
August apparent steel supply increased by 130,000 tons over July to 9.83 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is the highest supply level seen since January 2019, a 31-month record. August supply is up 2.69 million tons compared to the same month […]
U.S. heating and cooling equipment shipments slowed in August to 2.05 million units, down 2.4% from July and down 11.4% from June’s record-high of 2.32 million units, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). August levels are down 1.8% from levels seen one year prior. Recall that 2020 monthly shipment […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
U.S. steel exports increased 1% from July to August at 764,000 tons, according to the latest U.S. Department of Commerce data. August levels remain in line with exports over the last few months. Recall that July saw the second highest monthly export level in the last three years (778,000 tons), just behind the April 2021 […]
Now is a good time to think about protecting your business. Steel Market Update’s Introduction to Steel Hedging: Managing Price Risk course will introduce you to hedging principles and give you a solid foundation, so you can learn how to protect your business and minimize the risk associated with unfavorable price changes. In just two […]
Flat rolled steel prices are in transition, which tends to lead toward more volatility and wider price ranges in Steel Market Update data. One of the issues we face when we reach an inflection point in the spot market is the lack of daily transactions. With service center inventories nearing a state of balance, combined […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Data on U.S. industrial production, capacity utilization, new orders and inventories continued to improve through August, indicating a strengthening manufacturing sector. The health of the manufacturing economy has a direct bearing on the […]
Final Census data shows that August foreign steel imports declined 10% from July’s 18-month high to 2.78 million tons. September import licenses are currently at 2.86 million tons as of Oct. 4, up 3% from August but down 7% compared to July. Total finished imports for August were finalized at 2.18 million tons, the highest […]
New orders, employment, and production grew through September, while supplier deliveries slowed and backlogs lengthened, said the Institute for Supply Management in its latest Manufacturing ISM Report on Business. The Manufacturing PMI rose 1.2 percentage points to 61.1% in September, the second consecutive monthly increase, indicating continued expansion for the overall economy. As a three-month […]
Steel prices gradually declined through the month of September, following one full year of increasing prices. Hot rolled steel prices decreased $35 per ton ($1.75 per cwt) throughout the month, with the SMU index averaging $1,920 per ton ($96.00 per cwt) as of last Tuesday. The SMU Price Momentum Indicator was adjusted to neutral the […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
As domestic hot rolled steel prices remain above $1,900 per ton, cheaper foreign steel imports continue to tempt U.S. buyers with potential discounts of 21-44%, according to Steel Market Update’s latest foreign versus domestic hot rolled steel price comparison. Foreign hot rolled steel prices are now theoretically $408-843 per ton cheaper than domestic steel, after taking freight costs, […]
Preliminary Census data shows that total foreign steel imports declined 10% in August, easing from July’s 18-month high down to 2.77 million tons. September import licenses are currently at 2.50 million tons as of Sept. 27, a 10% decline from August and down 19% compared to July. Total finished imports are preliminarily at 2.18 million […]
It’s beginning to look like hot rolled steel prices will fall short of the $2,000 per ton ($100 per cwt) mark that many believed would be the peak. Steel Market Update’s check of the market on Monday and Tuesday shows the average hot rolled price decreasing for the third time in as many weeks to $1,920 […]
Join Steel Market Update next week for the final Steel 101 Workshop of 2021, running virtually on Tuesday and Wednesday, Oct. 5-6. Unsure what to expect from the virtual training experience? SMU and CRU have been successfully running virtual events on our customized virtual platform since 2020, including the previous SMU Steel Summit and Tampa Steel Virtual Conference. […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released on Friday afternoon by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number […]
Demand for design services from architecture firms in the U.S. improved for the seventh consecutive month, said the American Institute of Architects. AIA’s Architecture Billings Index rose from 54.6 in July to 55.6 in August. The ABI has expanded each month since January. The index for new project inquiries fell by 0.3 points to 64.7, […]
The average hot rolled steel price saw another small dip, based on Steel Market Update’s check of the market this week, but cold rolled and galvanized continued to rise, as the market reacts unevenly to changing conditions. On the supply side, sources report better availability of spot tons from the domestic mills at the same […]
There’s still time to sign up for the few spots remaining in the next Steel 101: Introduction to Steel Making & Market Fundamentals workshop, a virtual event to be held Oct. 5-6. This workshop was conducted in person for many years and has trained more than 1,000 individuals within the steel industry. We took the workshop […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days. Through Sept. 17, iron ore prices stumbled 21% in one month’s time, busheling scrap prices declined 12%, pig iron prices fell 11%, and shredded scrap prices declined 3%. Coking coal prices jumped 49% in that […]
Foreign steel imports continue to entice U.S. buyers with potential discounts of 17% to 42%, according to Steel Market Update’s latest foreign versus domestic hot rolled steel price comparison. With domestic hot rolled averaging $1,950 per ton last week, foreign prices are theoretically $330 to $830 per ton cheaper than domestic prices after taking freight costs, trader […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]