Heating and cooling equipment shipments totaled 1.75 million units in April, down 0.1 percent compared to one year ago, according to data recently released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). This is the first month that total monthly equipment shipments have declined on a year-over-year basis since September 2018. Residential and commercial storage […]
U.S. steel exports in April totaled 602,652 net tons (546,717 metric tons), up 2.3 percent from March, but down 30.0 percent from levels one year ago. This is the fifth lowest monthly export level seen in Steel Market Update’s 10-year history, behind December 2018 at 519,099 tons, September 2018 at 584,858 tons, March 2019 at […]
April apparent steel supply was calculated at 9,662,760 net tons, according to data released earlier this week. Apparent steel supply is determined by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. April apparent steel supply saw a 166,538 ton or 1.7 percent decrease compared to the same month […]
Last week I spoke with Mark Millett, CEO of SDI, and he said to me, “Crazy market, isn’t it?” That is proving to be an understatement. Our price indices took major hits this week as we saw prices drop across the board. We heard the drop was blamed on scrap, on short lead times, on […]
This first estimate of U.S. steel imports for June shows foreign purchases trending further downward. The rate of Commerce Department import licenses, extrapolated out through the end of the month, forecasts total steel imports of less than 2.5 million tons in June, well below the average of around 2.7 million tons. Steel imports spiked in […]
U.S. steel imports appear to have declined in May from the big jump in April, based on a preliminary total of May license data from the Commerce Department. Semi-finished imports dropped sharply, from 1.3 million tons in April to 697,000 tons in May as domestic steelmakers worked down their supplies of foreign slabs. Imports totaling […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel prices (delivered to U.S. 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 costs […]
Steel buyers are hoping the market will find a bottom soon, but it did not happen in the past week. Steel Market Update data indicates that hot rolled and cold rolled both saw further declines averaging around $10 per ton. Plate prices saw a small increase. Here is how we see prices this week: Hot […]
Steel Market Update’s Steel Buyers Sentiment Index dipped below the +50 mark and continued to erode last month as the uncertainty over tariffs and trade had a negative effect on buyers’ attitudes. With OEM and service center executives feeling less positive about their prospects for the next few months, as indicated by SMU Future Buyers […]
The U.S. active rotary 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 984, with oil rigs up 3 and gas rigs down 2. Compared to this time last year, the 984 count is […]
Chinese steel trade data was recently released for the month of April 2019, providing updated data on iron ore imports, scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in April totaled 80,770,000 metric tons, a decrease of 6.5 percent from the previous month, and a decrease of 2.6 percent from […]
U.S. steel imports saw a big jump in April, based on preliminary license data from the Commerce Department. Total imports appear to have topped 3.3 million tons, largely due to nearly 1.3 million tons of semi-finished imports. The figures suggest that domestic steelmakers tripled their purchases of foreign slabs in April compared with March. Final […]
Prices declined further on all types of steel products in the past week, according to Steel Market Update sources. Demand appears soft as buyers wait to see if import offers pick up now that President Trump has cut tariffs on Canada, Mexico and Turkey. Here is how we see prices this week: Hot Rolled Coil: […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel prices (delivered to U.S. 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 costs […]
Steel prices declined yet again this week with some hot rolled offers falling below the $600 per ton level, according to Steel Market Update data. The market will be watching intently in the coming weeks to see if imports from Canada and Mexico add to the downward price pressure, now that President Trump has removed […]
U.S. steel imports are trending a bit lower in May after a significant jump in April, according to Steel Market Update’s analysis of Commerce Department license data. With about 10 days left in the month, it appears May imports will approach 2.7 million tons, down from approximately 2.9 million tons in April. May imports are […]
The U.S. active rotary rig count, an indicator of oil country tubular goods demand, decreased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs fell by 1 to 987, with oil rigs down 3 and gas rigs up 2. Compared to this time last year, the 987 count is […]
Registrations continue for the 2019 SMU Steel Summit Conference, with nearly 500 individuals representing 213 companies registered. Here is a listing of the companies registered as of Thursday afternoon. Note that those companies with an * after their name means more than one person is attending. If your company is missing, or if you have […]
Final Census data shows that steel imports into the U.S. were well below average in March at 2.26 million tons, but have trended up sharply in April and May. Based on license data, April imports jumped by more than 28 percent to nearly 2.9 million tons, largely due to a 450,000-ton increase in semi-finished imports, […]
March apparent steel supply was calculated at 9,601,722 net tons, according to data released late last week. Apparent steel supply is determined by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. March apparent steel supply saw a 333,756 ton or 3.4 percent decrease compared to the same month […]
Flat rolled and plate steel prices continued their slide this week. There continues to be a wide spread between hot rolled base pricing and that of cold rolled and coated steels. The changes in pricing shown below do not reduce the spreads, which have been running $150-$170 per ton. Normal spreads should be closer to […]
U.S. steel exports in March totaled 589,057 net tons (534,384 metric tons), down 1.7 percent from February and down 32.2 percent from levels one year ago. This is the third lowest monthly export level seen in our 10+ year history, behind December 2018 at 519,099 tons and September 2018 at 584,858 tons. The total March […]
Total raw steel production for the month of March rose to 8,472,311 net tons, reports the American Iron and Steel Institute in Washington. This is the highest monthly production level seen in four and a half years, going back to August 2014 when it was 8,546,303 tons. Broken down by production method, 5,833,229 tons (68.9 […]
The U.S. active rotary rig count, an indicator of oil country tubular goods demand, decreased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs fell by 2 to 988, with oil rigs down 2 and gas rigs unchanged. Compared to this time last year, the 988 count is down […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel prices (delivered to U.S. 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 costs […]
Steel imports into the U.S. in March, totaling 2.26 million tons, were down by 7 percent from the prior month led by a sharp decline in semi-finished imports, according to final Census data from the Department of Commerce. It does not appear the downtrend is continuing, however. Based on the latest license data, imports totaled […]
Steel buyers are still trying to get a sense for what is driving this market and market pricing. We are seeing weakness in prices even though foreign steel imports are down, import price offers are higher than domestic steel prices and demand is pretty good for most of the market segments using sheet or plate […]
This comment from a large national service center says it all: “Prices are all over the place. It’s as if the discipline is lost. Different mills all seem to have some sort of hole or gap they’re trying to fill causing pricing heartburn.” Steel Market Update saw further erosion in spot prices on flat rolled […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel prices (delivered to U.S. 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 costs […]
U.S. steel exports in February totaled 599,430 net tons (543,794 metric tons), down 5.8 percent from January and down 25.6 percent from levels one year ago. The total February export figure is above the three-month moving average (3MMA, average of December 2018, January 2019, and February 2019) but below the 12-month moving average (12MMA, average […]