June apparent steel supply fell 7.4 percent over May to 8,941,089 net tons, according to government data released late last week. Although down somewhat, supply remains in line with levels of the last three years. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. 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 13 to 1,057, with oil rigs up 10 to 869 rigs, gas rigs up 3 to 186 rigs, and miscellaneous rigs unchanged at 2 […]
Earlier this month the U.S. Department of Commerce released Final Census Data for the month of June. We found foreign steel imports were at the lowest level seen since 2012 at just under 2.5 million net tons. Finished steel imports totaled 1,886,767 net tons with all but coated steels seeing reductions. When looking at the […]
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 […]
Heating and cooling equipment shipments were up 7.8 percent in June compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Friday. This is the highest total equipment shipment level in the institute’s 10+ year history at 2.27 million units shipped, topping the previous record of 2.10 […]
A pretty quiet week as buyers and sellers sneak away for their summer vacations. Not much has changed. We saw a few of the flat rolled items as down $5 to $10 per ton and one as unchanged compared to one week ago. Plate prices were up as mills start to take October orders. Here […]
Reports of demand easing a bit in some markets and declining scrap prices in August hint at a steel market that may be in transition. But steel prices remained largely unchanged from last week based on Steel Market Update’s latest data. Here is how we see prices this week: Hot Rolled Coil: SMU price range […]
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 2 to 1,048, with oil rigs up 3 to 861 rigs, gas rigs down 1 to 186 rigs, and miscellaneous rigs unchanged at 1 […]
Imports of foreign steel remain surprisingly resilient despite the 25 percent tariff imposed by the Trump administration. Imports saw a decline in June, but appear to be rebounding in July. Imports of foreign steel declined by about 450,000 tons in June or 15.3 percent from the previous month, according to preliminary Census data released by […]
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 […]
Imports of foreign steel continue at a brisk pace, despite the Section 232 tariffs placed on steel imports from every country in the world except Australia (no quota), South Korea (with quota), Brazil (with quota) and Argentina (with quota). Since the Section 232 tariffs began at the beginning of May, and most foreign mill lead […]
We saw either sideways or modest gains in flat rolled steel pricing this week. Lead times continue to be extended by historical standards and, of course, the 25 percent tariff on most of the foreign steel coming into the United States continues and it does not appear it will be withdrawn at any time soon. […]
The market has been relatively quiet this past week with only minor adjustments to the flat rolled indices. Steel Market Update is hearing steel buyers’ concerns about possible price declines. At the same time, there are others who are positive that prices will remain within $50 per ton of today’s levels through the end of […]
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 […]
May apparent steel supply fell 1.8 percent over April to 9,654,200 net tons, according to the data released late last week. Although down, supply remains strong in comparison to the last three years. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. May […]
The U.S. rig count, an indicator of oil country tubular goods demand, increased this week, according to July 13 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs rose by 2 to 1,054 rigs, with oil rigs unchanged at 863 rigs, gas rigs up 2 to 189 rigs, and miscellaneous […]
U.S. steel exports in May 2018 totaled 857,673 net tons (778,069 metric tons), flat over April but down 14.8 percent from May 2017 (which was at a 30-month high). Total exports have averaged around 860,000 tons the last few months. The total May export figure is a few thousand tons below the three-month moving average […]
Flat rolled steel prices were stable to moderately lower this week. Benchmark hot rolled coil was unchanged and, along with plate, is the strongest of the products followed by Steel Market Update. Cold rolled and galvanized index averages were lower compared to one week ago, while Galvalume was unchanged. September orders for plate delivered to […]
On Friday, July 6, the U.S. Department of Commerce released Final Census Data on foreign steel imports for the month of May 2018. May imports totaled 2,929,652 net tons, which was 824,335 tons less than the prior month. The import license data collected through July 6 shows June foreign steel imports to be on pace […]
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 […]
May heating and cooling equipment shipments were up 10.0 percent in May compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) last Friday. This is the higest year-over-year increase since March 2017 when there was a 10.1 percent increase. Residential and commercial storage water heaters were up […]
The U.S. rig count, an indicator of oil country tubular goods demand, fell this week, according to June 28 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs fell by 5 to 1,047 rigs, with oil rigs down 4 to 858 rigs, gas rigs down 1 to 187 rigs, and […]
On Tuesday, the U.S. Department of Commerce reported preliminary steel import license data for May at 2,886,606 net tons, a decrease of 23 percent from the April high and a decrease of 17 percent compared to the same month last year. Updated June license data was also released; taking the daily license rate and spreading […]
Steel Market Update canvassed steel buyers over the past two days and found that flat rolled prices are mixed and plate prices are rising. Two of our flat rolled indices increased over the prior week, and two of them declined, while the plate index rose. Here is how we see prices this week: Hot Rolled […]
We are in the middle of a U.S. holiday week, and the Fourth of July on a Wednesday gave plenty of steel buyers and sellers an excuse for taking the week off, or at least an extended long weekend. Benchmark hot rolled prices were seen as being modestly lower based on the responses received from […]
On Tuesday, the U.S. Department of Commerce reported foreign steel import license data for the first 19 days of June. The data is indicating to Steel Market Update a significant drop in imported foreign steel. Taking the daily license rate and spreading it across the 30 days of June, we see the month trending toward […]
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 […]
Earlier this week, the Department of Commerce reported license data for the month of June 2018. Based on licenses through June 12, the trend is for June foreign steel imports to come in around 2.1 million net tons. If the pace of actual receipts matches the pace of the licenses seen so far this month, […]
April apparent steel supply fell 1.1 percent over March to 9,829,298 net tons, according to the data released late last week. Although down this month, supply remains strong in comparison to the last three years or so. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total […]
April heating and cooling equipment shipments were up 8.2 percent in April compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) last Friday. This is the higest year-over-year increase since October 2017 when there was an 8.6 percent increase. Residential and commercial storage water heaters were up […]