The number of active U.S. rotary drill rigs was relatively unchanged this past week, while the Canadian rig count declined, according to data released 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. SMU Note: Our last […]
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 […]
Foreign hot rolled steel imports continue to tempt U.S. buyers as domestic prices soar, offering potential discounts of 10% or more, according to Steel Market Update’s latest foreign versus domestic hot rolled steel price comparison. Foreign HRC prices are theoretically $154-$323 per ton cheaper than domestic steel prices at this time. Recall that domestic mills […]
Steel prices continued their upwards climb in the month of February, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,200 per ton in the third week of the month, reaching levels never before seen. Steel Market Update’s hot rolled price index reached $1,210 per ton by the end of February, up […]
U.S. industrial production, manufacturing and durable goods orders through January and February data continued to show improvement from the coronavirus pandemic downturn. The health of the manufacturing economy has a direct bearing on the health of the steel industry. The Industrial Production Index The IP index is a gauge of output from factories, mines and […]
The Energy Information Administration’s February Short-Term Energy Outlook, which was published prior to the hazardous winter weather that swept across the country in mid-February, remained subject to heightened levels of uncertainty as responses to COVID-19 continue to evolve. Reduced economic activity from the pandemic caused a decline in 2020 energy demand and supply. As of […]
Steel prices took another bite out of the record books in March. The advent of March shows flat rolled and plate steel prices are still roaring upwards, with hot rolled hitting another record high of $1,240 per net ton, according to Steel Market Update’s check of the market this week. Prices generally moved up in […]
Mark your calendars as Steel Market Update has a wide array of conferences and workshops scheduled through the month of August 2021. Here is what you can expect: March 30 & 31: Steel Hedging 101: Introduction to Managing Price Risk (virtual) At the end of this month, Spencer Johnson of StoneX, the CME Group and […]
U.S. steel imports show mixed signs, according to January preliminary Census data. January steel imports are currently reported at 2.42 million net tons, up 62% from one month prior due to the quarterly surge in semi-finished product imports. Focusing on finished steel imports only, January figures are down from December by nearly 90,000 tons or […]
Among steelmaking raw materials, the prices of iron ore, pig iron and steel scrap moderated through February following large gains seen in previous months. Prices declined as much as 16% month-over-month for those three products, but remain 34-57% higher compared to three months prior and as much as 87% higher than levels one year ago. […]
The number of active U.S. rotary drill rigs was unchanged this past week, while the Canadian rig count declined, according to data released 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. […]
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 continue to soar upwards of $1,200 per ton, foreign steel imports continue to tempt U.S. buyers with potential discounts of 10% or more, according to Steel Market Update’s latest foreign versus domestic hot rolled steel price comparison. Foreign HRC prices are theoretically $131-$373 per ton cheaper than domestic steel […]
Speculation that hot rolled steel prices could reach $1,200 per ton drew scoffs from some quarters just two months ago, yet here we are. Steel Market Update’s check of the market this week shows the average HR price up a further $20 per ton to yet another record high. The HR price surpassed the former […]
December heating and cooling equipment shipments totaled just over 1.8 million units, up 8.9% from November and up 12.2% from levels one year prior, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Total shipments for 2020 reached 22.2 million units, up 6.8% over both 2019 and 2018. As seen in the […]
U.S. apparent steel supply rebounded significantly in December, up 6.4% to 7.79 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. While supply levels have improved each month since May, recall that April and May were the two lowest levels seen in the last 10 years […]
U.S. steel imports are on the upswing. December steel import figures were finalized at 1.50 million net tons, up 9% from one month prior and up 18% over September’s 11-year low of 1.26 million tons. January import licenses are up 47% from the month prior to 2.20 million tons, the highest monthly level seen since […]
After declining 8% the prior month, U.S. steel exports decreased another 8% in December, finishing off the last month of the year at 616,000 tons, according to recent U.S. Department of Commerce data. 2020 saw quite a swing in monthly export levels; the year started strong, nearing 700,000 tons in January through March. Then the […]
Despite all the speculation about an impending peak, Steel Market Update’s check of the market this week shows steel prices continuing to rise. SMU puts the current average HR price at a new high of $1,180 per ton, the fifth new high-water mark since the second week of January when the spot market surpassed the […]
U.S active rotary drill rig counts increased again last week, while Canadian rig counts declined, according to data released 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. rigs rose by 8 […]
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 next Steel 101 Virtual Workshop: Introduction to Steel Making and Market Fundamentals will take place on Feb. 9-10, with an upcoming workshop planned for May, if you can’t make these dates. If you are considering attending or sending some of your employees, there are still limited places available for next week, so you can register online. […]
The next Steel 101 Virtual Workshop: Introduction to Steel Making and Market Fundamentals will take place on Feb. 9-10, with an upcoming workshop planned for May, if you can’t make these dates. If you are considering attending or sending some of your employees, there are still limited places available for next week, so you can register online. […]
Foreign steel continues to grow cheaper compared to steel made in the U.S., according to Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison, tempting buyers to consider purchasing imported steel. With U.S. HRC prices now at $1,150 per ton or higher, foreign HRC prices are theoretically $83-$323 per ton cheaper than […]
Among steelmaking raw materials, the prices of iron ore, pig iron and scrap saw large gains in January compared to months prior, up as much as 86 percent year over year. Coking coal prices, which rebounded compared to recent months, were still down 9 percent in January versus prices one year ago. Zinc prices have declined […]
U.S. flat-rolled steel prices remain on the rise thanks to strong demand, thin spot supplies and limited short-term competition from imports. While some sources think imports could send domestic prices lower, others note that foreign steel suffers from the late deliveries that have plagued customers of domestic mills. “Too much risk ordering foreign steel with lead times into […]
Steel and scrap prices continued to climb throughout January, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,000 per ton in the first week of the year, levels not seen in over a decade. Steel Market Update’s hot rolled price index reached $1,140 per ton by the end of January, up […]
Updated preliminary data now shows December steel imports nearing 1.5 million net tons, up 9 percent from November levels, but down 1 percent from October. Recall that back in September, total steel imports reached an 11-year low of 1.26 million tons. January import licenses are currently at 1.90 million tons, up dramatically due to the […]
U.S. industrial production, manufacturing and durable goods orders through December continued to show improvement from the coronavirus pandemic downturn. The health of the manufacturing economy has a direct bearing on the health of the steel industry. The Industrial Production Index The IP index is a gauge of output from factories, mines and utilities. Industrial production […]
Steel prices continue to trek upward. But the pace has slowed, and questions about whether the market is at or near a summit have re-emerged. “Talked to two large OEMs that are postponing buys for the next few weeks. They believe we are at peak right now,” one respondent to Steel Market Update’s check of […]