May heating and cooling equipment shipments totaled 1.66 million units, down 17.7 percent from the same month one year ago, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). This is now the largest year-over-year decline since June 2009, surpassing last month. On a three-month moving average, total heating and cooling shipments […]
U.S apparent steel supply rose slightly in May to 6.61 million net tons, according to recent U.S. Department of Commerce and American Iron and Steel Institute data. This is the second lowest supply level in our limited 10-year history, just behind the April 2020 figure of 6.54 million tons. Apparent steel supply, a proxy for […]
U.S. raw steel production in May rose 1.9 percent to 5,415,000 net tons, as reported last week by the American Iron and Steel Institute in Washington. May production was well below the 2020 average of 6,934,000 tons, and down nearly 3 million tons or 35.0 percent compared to the same month last year. May production […]
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 […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices continue gain a greater advantage over foreign imports, according to SMU and CRU indices. After shrinking in May, the price gap between domestic HRC compared to German, Italian, and East/Southeast Asian imports has widened over the last month. The following calculation […]
U.S. steel exports in May slipped 13 percent past April’s low to their lowest level in more than 24 years as the coronavirus took a toll on economies all over the world. At 353,000 tons, May exports were down 44 percent from levels one year prior, according to recent U.S. Department of Commerce data. The 2020 […]
Quite a bit has happened over the past two days as we have added new speakers and have had quite a few new registrations for the 2020 SMU Virtual Steel Summit Conference. First the speakers: SMU is pleased to announce the addition of Mark Millett, President & CEO of Steel Dynamics, and Maximo Vedoya, CEO […]
Quite a bit has happened over the past two days as we have added new speakers and have had quite a few new registrations for the 2020 SMU Virtual Steel Summit Conference. First the speakers: SMU is pleased to announce the addition of Mark Millett, President & CEO of Steel Dynamics, and Maximo Vedoya, CEO […]
The Aug. 1 deadline to submit nominations for the 2nd annual SMU NexGen Leadership Award is just three weeks away. The award, sponsored by the Steel Manufacturers Association, is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host […]
Flat rolled steel prices weakened further this past week with hot rolled averaging $475 per ton, according to Steel Market Update’s latest check of the market. With scrap prices for July poised to settle lower this week, and steel demand still very much in question due to the coronavirus, SMU’s Price Momentum Indicator continues to […]
Recently released Census data shows final May steel imports totaled 1.80 million net tons, down 35.1 percent from April, but up 2.8 percent over March, according to the U.S. Department of Commerce. The final May figure is just 9,700 tons higher than the preliminary May import figures SMU reported in late June. Finished imports in […]
The Conference Board Employment Trends Index (ETI) increased in June, further stabilizing from sharp declines in recent months. The index now stands at 49.05, up from 45.27 in May. However, the index is still down 54.8 percent from a year ago. “The Employment Trends Index increased for the second consecutive month, but the virus’s recent […]
After canvassing the market this week, Steel Market Update has moved its price momentum indicator on hot rolled, cold rolled and galvanized steel products to Lower. All three products saw further declines since last week as the market stuggles to gain some traction. With anxiety high over a possible surge in coronavirus cases, and scrap […]
Steel prices rose in the beginning of June, following May price increase announcements by the mills, but began to decline in the middle of the month and reached $480 per ton as of this week. Scrap prices were flat to down over May, while zinc and aluminum prices increased in June. SMU Buyers Sentiment Index […]
California Steel Industries notified customers on Monday that it will be lowering the extra charge for galvanized coatings due to declines in the market price of zinc. CSI advised customers: “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective beginning with orders placed for August shipment and […]
We continue accepting nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North America, […]
The U.S. Energy Information Administration (EIA) reports that recent declines in demand for petroleum products have led commercial crude oil inventories in the United States to reach an all-time high of 541 million barrels as of the week ending June 19, which is 5 million barrels more than the previous record set in late March […]
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 […]
Recently released preliminary steel import data shows May imports totaling 1.79 million net tons, according to the U.S. Department of Commerce. This is down nearly 1 million tons compared to final April imports, primarily due to the quarterly reset on semifinished imports. Taking semifinished products out of the picture, imports of finished products are up […]
We continue accepting nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North America, […]
Flat rolled steel prices receded by $10-20 per ton in the past week as supplies continue to exceed orders even though demand is improving. The benchmark price for hot rolled dipped below the $500 per ton mark for the first time since the third week in May. Rumblings of furnace restarts could add to supplies […]
Active U.S and Canadian gas and oil rigs declined again this past week, according to oilfield services company Baker Hughes. The active drill rigs 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 fell by 13 to 266, with […]
The multi-month decline in active U.S and Canadian gas and oil rigs seems to have flattened out, according to oilfield services company Baker Hughes. The active drill rigs 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 fell by […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices have started to gain a greater advantage over foreign imports, according to SMU and CRU indices. After shrinking in May, the price gap between domestic HRC compared to German and Italian imports has now slightly widened, while the East/Southeast Asian […]
Steel Market Update continues to accept nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference […]
Steel Market Update continues to accept nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference […]
Steel Market Update’s canvass of the market this week shows hot rolled and galvanized steel prices down about $15 a ton, though plate is up about $10 a ton following last week’s price increase announcements by the mills. Prices have yet to gain much traction even though demand has improved as coronavirus restrictions have been […]
Raw materials prices have seen varying trends in the past month or two as the coronavirus has had varying effects on different commodities in different parts of the world. Iron ore prices have stayed relatively high due to strong demand in China, where COVID-19 restrictions have been eased. Virus-related disruptions to Brazilian mining operations have […]
It’s time to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption across domestic […]
It’s not too late to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption […]