According to Baker Hughes data from August 26, 2016, the U.S rig count for the week was 489 rigs exploring for or developing oil or natural gas. This is down 2 rigs compared to last week, with oil rigs unchanged at 406 rigs, gas rigs down 2 to 81 rigs, and miscellaneous rigs unchanged at […]
The following calculation is used by Steel Market Update to identify the spread between foreign hot rolled export prices and domestic hot rolled prices. We want our readers to note that we have made a decision to replace SteelBenchmarker as the primary data provider of foreign hot rolled coil prices. We were finding the comparison […]
Last week the Metal Service Center Institute (MSCI) reported shipments and inventories for the month of July. We produced an article that normally goes to our Premium level members only last week but, one of our clients requested that we produce the report in the format we normally use for our Executive level members. Here […]
Chinese steel trade data was recently released for the month of July 2016, providing updated data on iron ore imports, scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in July were 88,400,000 metric tons, an increase of 8.3 percent from the previous month and an increase of 2.7 percent from […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the sixth consecutive week, following a 28 week long positive streak. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week average […]
For the week ending August 20, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,655,000 net tons of raw steel, a 1.8 percent decrease over the previous week and a 4.1 percent decrease over the same week one year ago. The estimated capacity utilization rate is 70.8 percent, down […]
According to Baker Hughes data from August 19, 2016, the U.S rig count for the week was 491 rigs exploring for or developing oil or natural gas. This is up 10 rigs compared to last week, with oil rigs up 10 to 406 rigs, gas rigs unchanged at 83 rigs, and miscellaneous rigs unchanged at […]
Canadian shipments for all steel products in the month of July were 318,700 net tons, a decrease of 14.8 percent from the month before and a decrease of 14.9 percent from July 2015. Inventories at the end of the month stood at 1,100,800 tons, down 1.8 percent from last month and down 25.6 percent from […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the fifth consecutive week, following a 28 week long positive streak. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week average […]
For the week ending August 13, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,685,000 net tons of raw steel, a 0.7 percent decrease over the previous week and a 2.4 percent decrease over the same week one year ago. The estimated capacity utilization rate is 72.1 percent, down […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through June 2016. 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 2016 decreased 12.5 percent […]
According to Baker Hughes data from August 12, 2016, the U.S rig count for the week was 481 rigs exploring for or developing oil or natural gas. This is up 17 rigs compared to last week, with oil rigs up 15 to 396 rigs, gas rigs up 2 to 83 rigs, and miscellaneous rigs unchanged […]
The following calculation is used by Steel Market Update to identify the spread between foreign hot rolled export prices and domestic hot rolled prices. We want our readers to note that we have made a decision to replace SteelBenchmarker as the primary data provider of foreign hot rolled coil prices. We were finding the comparison […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of June 2016 was 9,098,316 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. June apparent […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the fourth consecutive week, following a 28 week long positive streak. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week average […]
For the week ending August 6, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,697,000 net tons of raw steel, a 1.0 percent increase over the previous week but a 1.7 percent decrease over the same week one year ago. The estimated capacity utilization rate is 72.6 percent, up […]
According to Baker Hughes data from August 5, 2016, the U.S rig count for the week was 464 rigs exploring for or developing oil or natural gas. This is up 1 rig compared to last week, with oil rigs up 7 to 381 rigs, gas rigs down 5 to 81 rigs, and miscellaneous rigs down […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the third consecutive week, following a 28 week long positive streak. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week average […]
For the week ending July 30, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,681,000 net tons of raw steel, a 1.3 percent decrease over the previous week and a 3.9 percent decrease over the same week one year ago. The estimated capacity utilization rate is 71.9 percent, down […]
The American Iron & Steel Institute (AISI) recently reported final U.S. raw steel production estimates for the month of June 2016. The monthly estimates are different than the weekly estimates we report in our Tuesday issues; the AISI bases the monthly estimates on over 75 percent of the domestic mills reporting vs. only 50 percent […]
The following calculation is used by Steel Market Update to identify the spread between European and Chinese hot rolled export prices and domestic (US) hot rolled prices. We want our readers to note that we have made a decision to replace SteelBenchmarker as the primary data provider of world and Chinese hot rolled coil pricing. […]
For the second month, SMU Price Momentum is at Neutral suggesting flat rolled steel prices will remain within a relatively tight trading range of plus or minus twenty dollars per ton over the next 30 days. We saw hot rolled prices only move $5 per ton during the month of July. Our average for the […]
According to Baker Hughes data from July 29, 2016, the U.S rig count for the week was 463 rigs exploring for or developing oil or natural gas. This is up 1 rig compared to last week, with oil rigs up 3 to 374 rigs, gas rigs down 2 to 86 rigs, and miscellaneous rigs unchanged […]
Cliffs Natural Resources recorded another successful quarter with net income of $30 million for continuing operations compared to a net loss of $38 million in Q2 2015. Adjusted EBITDA was $102 million, driven by higher domestic steel prices. EBITDA included idle expenses of $20 million for the Northshore and United Taconite mines. US iron ore […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the second week in a row, following a 28 week long positive streak. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous […]
For the week ending July 23, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,703,000 net tons of raw steel, a 2.5 percent decrease over the previous week and a 2.7 percent decrease over the same week one year ago. The estimated capacity utilization rate is 72.8 percent, down […]
According to Baker Hughes data from July 22, 2016, the U.S rig count for the week was 462 rigs exploring for or developing oil or natural gas. This is up 15 rigs compared to last week, with oil rigs up 14 to 371 rigs, gas rigs down 1 to 88 rigs, and miscellaneous rigs up […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States turned negative this week, following a 28 week positive streak. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week average price as a percentage. A positive […]
For the week ending July 15, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,746,000 net tons of raw steel, a 2.0 percent increase over the previous week but a 0.2 percent decrease over the same week one year ago. The estimated capacity utilization rate is 74.7 percent, up […]
Canadian shipments for all steel products in the month of June were 374,100 net tons, a decrease of 3.7 percent from the month before and a decrease of 14.4 percent from June 2015. Inventories at the end of the month stood at 1,120,500 tons, down 2.6 percent from last month and down 26.0 percent from […]