Heating and cooling equipment shipments in August were up 3.6 percent compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Wednesday. On a year-over-year basis, total monthly equipment shipments have increased every month since October 2016. Residential and commercial storage water heater shipments declined 7.9 percent […]
They may be off the table as of today, but late last week (and some buyers reported some still existing early this week) there were special deals – many tied to large tonnage – as the domestic mills attempted to fill their hot rolled order books. We did have a number of buyers and a […]
U.S. raw steel production for the week ending Oct. 13 totaled 1,881,000 net tons with the mills operating at 80.2 percent of capacity, reported the American Iron and Steel Institute. The current week’s production is a 1.6 percent improvement from the prior week, and a 10.3 percent jump from the same period last year, when […]
Apparent steel supply remained high in August, coming in at 9,828,339 net tons, according to government data released late last week. This is the third highest level of the year, just a hair under the April figure (9,829,298 tons), and both being about 100,000 tons under the March high (9,935,479 tons). Apparent steel supply is […]
The U.S. active rig count, an indicator of oil country tubular goods demand, increased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs rose by 11 to 1,063, with oil rigs up 8 to 869 rigs, gas rigs up 4 to 193 rigs, and miscellaneous rigs down 1 to […]
U.S. steel exports in August totaled 646,692 net tons (586,670 metric tons), down 1.4 percent over July and down 29.5 percent from August 2017. Surpassing July’s low, this is now the lowest total export figure seen since May 2009 when 627,968 tons were shipped out of the country. Prior to July and August levels, total […]
We saw mixed results in the flat rolled markets this week. Benchmark hot rolled dropped $5 per ton compared to one week ago. Cold rolled was modestly higher ($5/ton), while galvanized and Galvalume were down $15 per ton. Plate prices remained intact with no change compared to one week ago. Here is how we see […]
U.S. mills have cranked out steel at a capability utilization rate of 79.0 percent or better for nine weeks in a row, but only briefly have breached the 80 percent mark. U.S. raw steel production for the week ending Oct. 6 totaled 1,851,000 net tons with the mills operating at 79.0 percent capacity, reported the American […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic hot rolled coil prices (FOB domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and other […]
The U.S. Department of Commerce released Final Census Data on August foreign steel imports late last week. The final data shows August imports hit 3,034,752 net tons, just slightly above the 2,987,565 net tons reported for the month of July. Total imports continue to be resilient, mostly on the back of semi-finished steels (mostly slabs […]
Hot rolled prices slipped this week while the other flat rolled products pretty much held their own. Plate prices in December are running essentially unchanged to November with limited spot tons available. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $820-$860 per ton ($41.00/cwt-$43.00/cwt) with an average of […]
U.S. raw steel production for the week ending Sept. 29 totaled 1,856,000 net tons, up 8.5 percent from the same period last year but down 0.4 percent from the prior week, reports the American Iron and Steel Institute. The mill capability utilization rate of 79.2 percent, up from 73.4 percent this time last year, remained […]
The U.S. active rig count, an indicator of oil country tubular goods demand, increased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs rose by 1 to 1,054, with oil rigs down 3 to 863 rigs, gas rigs up 3 to 189 rigs, and miscellaneous rigs up 1 to […]
The slippage in spot pricing has slowed as flat rolled and plate prices continue to remain firm. We saw a tightening of the spread on hot rolled as both the upper and lower ends of the range moved closer. The other flat rolled products saw strength at the lower end of the range with adjustments […]
U.S. raw steel production for the week ending Sept. 22 totaled 1,863,000 net tons, up 8.9 percent from the same period last year and 0.1 percent from the prior week, reports the American Iron and Steel Institute. The mill capability utilization rate of 79.5 percent, up from 73.4 percent this time last year, once again […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic hot rolled coil prices (FOB domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and other […]
Steel Market Update saw slippage in the lower end of the ranges on hot rolled, cold rolled and Galvalume steel prices this week. Galvanized remained the same, as did plate. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $810-$890 per ton ($40.50/cwt-$44.50/cwt) with an average of $850 per […]
U.S. raw steel production slipped by a slight 0.9 percent last week, nudging the mill capability utilization rate back below 80 percent once again. The American Iron and Steel Institute reported an average utilization rate for the week ending Sept. 15 of 79.4 percent, down from the 80.2 percent level in the prior week. But steel […]
The U.S. active rig count, an indicator of oil country tubular goods demand, increased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs rose by 7 to 1,055, with oil rigs up 7 to 867 rigs, gas rigs unchanged at 186 rigs, and miscellaneous rigs unchanged at 2 rigs. […]
U.S. steel exports in July totaled 655,937 net tons (595,057 metric tons), down 28.2 percent over June and down 18.7 percent from July 2017. This is the lowest total export figure seen since May 2009 when 627,968 tons were shipped out of the country. Prior to July, total exports had averaged around 875,000 tons the […]
Flat rolled spot base prices continued to drop over the past week. There are mixed emotions from steel buyers with some believing the weakness being seen is an “overreaction” to a “perceived” weakness in the steel mill order books. Comments were made to Steel Market Update during the data gathering process that weakness is mill […]
U.S. raw steel production finally topped the 80 percent capaciity utilization level the industry considers necessary for sustainable profitability. The American Iron and Steel Institute reported a utilization rate for the week ending Sept. 8 of 80.2 percent, up from 79.8 percent in the prior week, and up from 73.4 percent the same week one […]
Heating and cooling equipment shipments were up 6.5 percent in July compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Friday. Residential and commercial storage water heater shipments were up 3.7 percent year over year to a combined 646,975 units; 631,474 units were shipped for residential […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic hot rolled coil prices (FOB domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and other […]
The U.S. Department of Commerce released Final Census Data today for July steel imports. The final number for July was 2,987,565 net tons. This is approximately 500,000 net tons more than June of this year. It was close to the 12-month moving average and slightly higher than the 3-month moving average (see table below). At […]
Once again flat rolled steel prices fell as steel buyers held back orders sensing blood in the water (lower prices). As one service center owner put it to Steel Market Update this afternoon, “The question is how weak can it get?” We were told the market had been acting like it had a “slow leak” […]
U.S. raw steel production continues to surpass previous highs, just a hair away from the 80 percent capability utilization level sought by the industry. The American Iron and Steel Institute reported a utilization rate for the week ending Sept. 1 of 79.8 percent, up from 79.3 percent in the prior week, and up from 75.4 […]
The U.S. active rig count, an indicator of oil country tubular goods demand, increased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs rose by 4 to 1,048, with oil rigs up 2 to 862 rigs, gas rigs up 2 to 184 rigs, and miscellaneous rigs unchanged at 2 […]
Flat rolled steel prices declined over the past week. We saw prices drop by $15 per ton on all products except hot rolled, which was down $5 per ton. Plate prices remained the same with prices essentially rolling over for many customers from October to November. However, plate buyers are warning SMU of maintenance issues […]
Earlier this week, the U.S. Department of Commerce released preliminary license data for July foreign steel data and license data for August. The latest data suggests July imports will rebound from June’s dip to almost reach 3.0 million net tons, and August levels will be in the 2.85 million ton ballpark. Semi-finished imports (slabs/billets) continue […]