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 […]
Chinese steel trade data was recently released for the month of July 2018, providing updated data on iron ore imports, scrap imports and flat rolled imports and exports. Chinese imports of iron ore in July totaled 89,960,000 metric tons, an increase of 8.1 percent from the previous month, and an increase of 4.3 percent from […]
Flat rolled steel prices moved lower over the past week. Benchmark hot rolled coil dropped to $885 per ton and momentum continues to point toward lower prices on all but plate products. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $860-$910 per ton ($43.00/cwt-$45.50/cwt) with an average 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 […]
U.S. steel exports in June 2018 totaled 913,705 net tons (828,900 metric tons), up 6.5 percent over May and up 0.3 percent from June 2017. Total exports have averaged around 875,000 tons the last few months. The total June export figure is above both the three-month moving average (average of April 2018, May 2018 and […]
We saw flat rolled steel prices as being lower this week compared to one week ago. As we reported last week, we are seeing lead times shortening and the mills more active and willing to discuss price during their negotiations. The ArcelorMittal USA price announcement on cold rolled and coated products is not a sign […]
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 […]