Steel Market Update forecast that flat rolled steel shipments from U.S. service centers would rise from 87,805 tons per day in December to 109,083 tons per day in January. The Metals Service Center Institute (MSCI) reported last week that sheet distributors shipped 105,109 tons per day. Our shipment forecast accuracy continues to be high, off […]
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 (USA) 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 […]
Total raw steel production for the month of January was 7,595,623 net tons, with 5,129,878 tons produced by electric arc furnaces (EAFs) and 2,465,745 tons produced by blast furnaces. This is the highest monthly production figure seen since August 2017 when 7,824,820 tons were produced. January raw steel production was 174,474 tons or 2.4 percent […]
The U.S. rig count, an indicator of oil country tubular goods demand, rose this week, according to March 2 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs rose by 3 to 981 rigs, with oil rigs up 1 to 800 rigs, gas rigs up 2 to 181 rigs, and […]
There were no surprises in this month’s data as our SMU Price Momentum continued to reflect higher steel prices, and that expectation continues over the next 30 to 60 days. Our SMU Steel Buyers Sentiment Index is at, or very near, all-time highs for our index. Buyers and sellers of flat rolled steel are optimistic […]
Preliminary steel import data was updated Tuesday afternoon showing 2.88 million net tons of imports for the month of January, according to the U.S. Department of Commerce. This is down from last week’s estimate of 3.08 million tons, but up 17.3 percent over December 2017 data. Preliminary data has been averaging 30,000 to 40,000 tons […]
The SMU Steel Summit Conference is THE fastest growing steel conference in North America and THE one conference manufacturing, distribution, suppliers to the industry and steel mills want to attend. Details about the agenda, speakers, location and costs, as well as how to register, can be found on our website: www.SteelMarketUpdate.com/Events/Steel-Summit or you can contact […]
U.S. steel exports in December totaled 751,977 net tons (682,183 metric tons), down 14.8 percent from November, but up 3.5 percent from December 2016. Total exports have averaged around 885,000 tons over the last few months after reaching a 2.5-year high in May (1,006,087 tons). The total December export figure is below the three-month moving […]
Foreign steel import licenses picked up over the past week and the February trend moved up to 2.5 million net tons from the low 2-million-ton level suggested last week. The trend is very similar to what we saw during the month of December when the U.S. imported 2,450,286 net tons. Our focus, however, is on […]
Apparent steel supply for the month of December 2017 showed a decline month-over-month and also year-over-year to 8,501,642 net tons, according to the latest data from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting […]
Steel shipments by Canadian service centers in January totaled 410,100 net tons, up 46.4 percent from December’s lull, but down 0.4 percent from January 2017, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 18,600 tons per day in January (a 22-day month), up from 14,700 tons per day in […]
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 (USA) 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 […]
The U.S. Department of Commerce released license data through the first 13 days of February that “suggests” foreign steel imports could be at the lowest levels seens in many years. The trend is for imports to barely exceed 2 million net tons, almost one-third lower than the 3 million tons that were reported for January. […]
The U.S. Department of Commerce released the final accounting for December 2017 imports, which came in at 2,450,286 net tons. For the calendar year, foreign steel imports rose by 15 percent compared to 2016. Total steel imports rose to 37,999,383 net tons. Steel Market Update is providing our readers with a detailed analysis of selected […]
Led by the Detroit scrap buyers, ferrous scrap traded sideways in most markets that had been concluded by the end of the day on Friday. Shredded scrap prices in the Detroit area were unchanged at $330-$345 per gross ton, while prime grades continue to trade at $370-$380 per gross ton. There were few if any […]
The U.S. rig count, an indicator of oil country tubular goods demand, was down for the week, but is up 23 percent year over year, according to Feb. 2 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs fell by 1 to 946 rigs, with oil rigs up 6 to […]
Industry data through the end January, including drivers of steel prices, supply and demand, are all pointing up as the year got off to a strong start. As the month ended, the Steel Market Update (SMU) Price Momentum indicator was pointing to higher flat rolled steel prices over the next 30 to 60 days as […]
Steel imports into the United States declined by 10 percent in December, compared with the prior month, to 2.45 million net tons, according to preliminary Census data. This followed an 11.4 percent slide from October to November. But despite the late-year declines, annual steel imports increased by more than 15 percent in 2017. 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 (USA) 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 […]
January imports are trending higher than expected at 2.8 million net tons, similar to what was imported one year ago. This is a bit disappointing to many in the steel industry who were expecting total steel imports to drop as they did in November and December 2017. To get a more complete view, we look […]
Steel shipments by Canadian service centers in December totaled 280,100 net tons, down 29.8 percent from the previous month, and down 3.4 percent from December 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 14,700 tons per day in December (a 20-day month), down from 19,000 tons per day […]
The U.S. Department of Commerce released import license data earlier today, which indicates that January steel imports are trending slightly higher than December’s 2,475,249 tons. Right now, based on the first 16 days of data, January is trending toward a 2.5 million to 2.7 million net ton month. Semi-finished imports (slabs/billets), which are purchased by […]
Apparent steel supply for the month of November totaled 8,723,547 net tons, according to the latest data from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. November apparent steel supply […]
The U.S. rig count, an indicator of oil country tubular goods demand, increased this week, according to Jan. 12 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs rose by 15 to 939 rigs, with oil rigs up 10 to 752 rigs, gas rigs up 5 to 187 rigs, and […]
Below is the latest data released by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through November 2017. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for November 2017 decreased 3.4 percent, […]
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 (USA) 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 […]
Steel Market Update anticipates conducting five Steel 101 workshops during calendar year 2018. Our January workshop scheduled for Mobile, Ala., later this month is sold out. Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop will be held in Merrillville, Ind., on March 28-29, 2018. The two-day session will include […]
Foreign steel imports into the United States were almost five million net tons greater during 2017 than what was reported for 2016. The 13 percent rise in imports was primarily due to higher semi-finished (slabs/billets) being shipped to the domestic steel mills (+1,773,805 net tons). In addition, oil country tubular goods (OCTG) rose by 2,267,574 […]
Chinese steel trade data was recently released for the month of November 2017, providing updated data on iron ore imports, scrap imports and flat rolled imports and exports. Chinese imports of iron ore in November totaled 94,540,000 metric tons, an increase of 18.9 percent from the previous month, and an increase of 2.8 percent from […]
The weekly U.S. rig count, an indicator of oil country tubular goods demand, decreased this week, according to Jan. 5 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs declined by 5 to 924 rigs, with oil rigs down 5 to 742 rigs, gas rigs unchanged at 182 rigs, and […]