The weekly U.S. rig count took a slight dip this week, according to Sept. 8 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs declined by 8 to 928 rigs, oil rigs declined 5 to 743 rigs, gas rigs fell 2 to 185 rigs, and miscellaneous rigs were down 1 […]
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 August was 7,824,820 net tons, with 5,344,663 tons produced by electric arc furnaces (EAFs) and 2,480,157 tons produced by blast furnaces. This is the highest monthly production figure seen since January 2015 when 8,002,074 tons were produced. August raw steel production was 150,877 tons or 2.0 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 […]
Chinese steel trade data was recently released for the month of August 2017, providing updated data on iron ore imports, scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in August were 88,660,000 metric tons, an increase of 2.8 percent from the previous month and an increase of 1.1 percent from […]
The weekly U.S. rig count remained steady this week, according to Sept. 8 data from Baker Hughes, a GE Company. The number of active U.S. drill rigs declined 1 to 935 rigs; oil rigs declined 5 to 744 rigs, gas rigs rose 4 to 190 rigs, and miscellaneous rigs were unchanged at 1 rig. Compared […]
Steel shipments by Canadian service centers in August totaled 387,500 net tons, up 11.8 percent from the previous month, and up 6.2 percent from August 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,600 tons per day in August (a 22-day month), up from 17,300 tons per day […]
Last week, we mistakenly published new extras for Nucor that have not yet been announced. We have revised our galvanized coating extras comparison table (see below), which is also available on our website. The table below is available on our website in the menu system under Resources > Steel Mills > Galvanized > Coating Extras […]
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 […]
Zinc prices have been rising and we are starting to see updated galvanized price extras from the mills. Steel Market Update has received updated galvanized coating extras from Nucor, USS Posco (UPI), NLMK, California Steel Industries (CSI), and AK Steel. We updated the comparison tables on our website and have included a copy of the […]
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 July 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 July 2017 decreased 8.4 percent, […]
Apparent steel supply for the month of July totaled 9,570,118 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. July apparent steel supply […]
U.S. steel exports in July totaled 806,512 net tons (731,656 metric tons), down 11.5 percent over June, but up 9.3 percent from July 2016. Total exports have declined over the last two months after reaching a 2.5-year high in May (1,006,087 tons). The total July export figure is below the three-month moving average (average of […]
The weekly U.S. rig count remained steady this week, according to Sept. 8 data from Baker Hughes, a GE Company. The number of active oil rigs declined by 3 to 756 rigs, while the active gas rig count rose 4 to 187 rigs. The miscellaneous rig count was unchanged at 1 rig. Compared to this […]
One of the reasons why the SMU Steel Summit Conference is successful and growing at a time when most conferences are not is due to the options we are given through the support of our sponsors and exhibitors. The cost to put on a three-day conference is truly staggering. Nonetheless, one of our goals has […]
SMU Steel Summit Attendees, Thank you again for registering for the 7th SMU Steel Summit Conference, which is now less than a week away. Here are some suggestions so that you may maximize your conference experience: Download and review the Steel Market Update Events App. We are already using the App and it will be […]
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 shipments by Canadian service centers in July totaled 346,500 net tons, down 11.7 percent from the previous month, but up 8.7 percent from July 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,300 tons per day in July (a 20-day month), down from 17,800 tons per day […]
Total raw steel production for the month of June was 7,487,972 net tons, with 5,182,147 tons produced by electric arc furnaces (EAF) and 2,305,825 tons produced by blast furnaces. June raw steel production was 118,921 tons or 1.6 percent lower than the previous month, and 34,195 tons or 0.5 percent lower than the same month […]
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 June 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 June 2017 increased 0.3 percent […]
U.S. steel exports in June totaled 910,988 net tons (826,435 metric tons), down 9.5 percent over May, but up 12.3 percent from June 2016. Although down over last month, total June exports are in line with the average monthly level over the last few months. Back in May, total exports had climbed to 1,006,087 tons, […]
The weekly U.S. rig count took a slight dip, according to Aug. 4 data from oilfield services company Baker Hughes, Inc. The oil rig count declined by 1 to 765 rigs, while the gas rig count declined by 3 to 189 rigs, for a total of 954. The miscellaneous rig count was unchanged. Compared to […]
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 following is a press release on steel exports from the American Institute for International Steel (AIIS) on July 27 2017: Falls Church, VA. July 27, 2017. Steel exports swelled 17.3 percent from April to May – and were up 25.2 percent from a year earlier – to surpass 1 million net tons. More than […]
Data from July 7, 2017, shows the U.S. rig count for the week was 950 rigs exploring for or developing oil or natural gas, reports oilfield services company Baker Hughes, Inc. This is down 2 rigs compared to last week, with oil rigs down 1 to 764 rigs, gas down 1 to 186 rigs, and […]
We’re in for a good year ahead, says popular economist Alan Beaulieu of ITR Economics, who will be a keynote speaker during Steel Market Update’s 2017 Steel Summit Aug. 28-30 at the Georgia International Convention Center in Atlanta. Previewing his remarks, ITR forecasts another six months of accelerating economic expansion for the U.S., followed by […]
Steel shipments by Canadian service centers in June totaled 392,600 net tons, down 5.4 percent from the previous month, but up 5.0 percent from June 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,800 tons per day in June (a 22-day month), down from 18,900 tons per day […]
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 May 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 May 2017 increased 5.5 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 […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive this week for the second consecutive week, following a 10-week streak of being in negative territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous […]