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 […]
U.S and Canadian active rotary drill rig counts increased again this week, 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 5 to 378, with […]
Foreign steel from almost anywhere else in the world is now cheaper than steel made in the U.S., according to Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison, tempting more and more buyers to consider ordering imports. With U.S. HRC prices now over $1,100 per ton, foreign HRC prices are theoretically […]
Steel prices seem to be changing by the minute, and so far always in an upward direction. What’s the going price for hot rolled? “Who knows? Ask me again after lunch,” quipped one respondent to Steel Market Update’s check of the market this week. SMU estimates the current average price for HRC is at a […]
U.S. apparent steel supply continued its upwards crawl in November, up 0.4 percent to 7.32 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 […]
On Tuesday, Jan. 14, USS POSCO notified customers of an upward revision to their galvanized steel coating extras, to apply on all new orders effective immediately. UPI is the fourth mill to revise their galvanized coating extras recently, following NLMK, CSI, and Nucor. SMU has done an analysis on the old and new extras, provided […]
November heating and cooling equipment shipments totaled 1.66 million units, up 36.3 percent from levels one year prior, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Total 2020 shipments through November reached 20.4 million units, up 6.3 percent compared to 19.2 million units shipped in the same period of 2019. As […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email info@steelmarketupdate.com. The Energy Information Administration’s Jan. 12 Short-Term Energy Outlook remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Reduced economic activity from the pandemic has […]
U.S. steel exports slipped 8 percent in November to 668,000 tons, according to recent U.S. Department of Commerce data. Although down over the prior month, November shows improvement compared to earlier this year; exports are up 79 percent compared to May, when we saw the lowest level in SMU’s 24-year data history. Total November exports […]