New York manufacturers reported flat general business conditions in the July Empire State Manufacturing Survey. The headline index fell from +6.01 points to +0.55, following the seesaw pattern seen over the past few months. The indexes for shipments and new orders both fell significantly to +0.70 and -1.82, respectively. In June they were +9.32 and […]
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 May 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 May 2016 decreased 13.6 percent […]
The following calculation is used by Steel Market Update to identify the spread between world hot rolled export prices as determined by SteelBenchmarker and domestic (US) hot rolled prices as published by SMU. Steel Market Update compares the world hot rolled export price to which dollars are added for freight, handling, trader margin, etc. The number […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive for the 28th consecutive week, following a 21 week negative 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 […]
For the week ending July 8, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,712,000 net tons of raw steel, a 1.4 percent decrease over the previous week and a 2.2 percent decrease over the same week one year ago. The estimated capacity utilization rate is 73.2 percent, down […]
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 May 2016 was 8,957,525 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. May apparent […]
According to Baker Hughes data from July 8, 2016, the U.S rig count for the week was 440 rigs exploring for or developing oil or natural gas. This is up 9 rigs compared to last week, with oil rigs up 10 to 351 rigs, gas rigs down 1 to 88 rigs, and miscellaneous rigs unchanged […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive for the 27th consecutive week, following a 21 week negative 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 […]
For the week ending July 1, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,737,000 net tons of raw steel, a 1.1 percent decrease over the previous week and a 1.2 percent decrease over the same week one year ago. The estimated capacity utilization rate is 74.3 percent, down […]
The following calculation is used by Steel Market Update to identify the spread between world hot rolled export prices as determined by SteelBenchmarker and domestic (US) hot rolled prices as published by SMU. Steel Market Update compares the world hot rolled export price to which dollars are added for freight, handling, trader margin, etc. The number […]
Andre Marshall stated in his “futures” article this evening that perhaps the market is a little too negative. The purpose of looking at the month of June in its totality is to provide another way to look at what just happened over the past month as you prepare for the next one. SMU Price Momentum […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive for the 25th consecutive week, following a 21 week negative 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 […]
For the week ending June 25, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,757,000 net tons of raw steel, a 0.4 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 75.1 percent, up […]
The American Iron & Steel Institute (AISI) recently reported final U.S. raw steel production estimates for the month of May 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 […]
According to Baker Hughes data from June 24, 2016, the U.S rig count for the week was 421 rigs exploring for or developing oil or natural gas. This is down 3 rigs compared to last week, with oil rigs down 7 to 330 rigs, gas rigs up 4 to 90 rigs, and miscellaneous rigs unchanged […]
Chinese steel trade data was recently released for the month of May 2016, providing updated data on iron ore imports, scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in May were 86,750,000 metric tons, an increase of 3.4 percent from the previous month and an increase of 22.4 percent from […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive for the 25th consecutive week, following a 21 week negative 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 […]
For the week ending June 18, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,750,000 net tons of raw steel, a 1.6 percent decrease over the previous week and a 0.6 percent decrease over the same week one year ago. The estimated capacity utilization rate is 74.8 percent, down […]
The following calculation is used by Steel Market Update to identify the spread between world hot rolled export prices as determined by SteelBenchmarker and domestic (US) hot rolled prices as published by SMU. Steel Market Update compares the world hot rolled export price to which dollars are added for freight, handling, trader margin, etc. The number […]
Canadian shipments for all steel products in the month of May were 388,600 net tons, an increase of 4.2 percent from the month before but a decrease of 2.1 percent from May 2015. Inventories at the end of the month stood at 1,150,300 tons, down 9.4 percent from last month and down 26.1 percent from […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States remained positive for the 24th consecutive week, following a 21 week negative 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 […]
For the week ending June 11, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,779,000 net tons of raw steel, a 1.1 percent increase over the previous week and a 2.0 percent increase over the same week one year ago. The estimated capacity utilization rate is 76.1 percent, up […]
According to Baker Hughes data from June 10, 2016, the U.S rig count for the week was 414 rigs exploring for or developing oil or natural gas. This is up 6 rigs compared to last week. Compared to this time last year, the 414 count is down 445 rigs. The is the second week in […]
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 April 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 April 2016 shifted slightly to […]
There are two headlines when reviewing our MoMo Index this week. The first is our Index has been in positive territory for 23 consecutive weeks. The second is showing the relationship in the current price movement compared against the 12 week moving average is in decline. That steep rise we saw earlier is pulling back […]
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 April 2016 was 8,634,917 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. April apparent […]
April steel exports totaled 794,536 net tons (720,792 metric tons), up 2.5 percent over March but down 5.9 percent from April 2015. Total April figures are above the thee month moving average (average of February, March, and April 2016 figures) but below the twelve month moving average (average of April 2015 through April 2016 data). […]
For the week ending June 4, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,760,000 net tons of raw steel, a 0.8 percent decrease over the previous week, but a 0.9 percent increase over the same week one year ago. The estimated capacity utilization rate is 75.3 percent, down […]
According to Baker Hughes data from June 3, 2016, the U.S rig count for the week was 408 rigs exploring for or developing oil or natural gas. This is up 4 rigs compared to last week, with oil rigs up 9 to 325 rigs, gas rigs down 5 to 82 rigs, and miscellaneous rigs unchanged […]
The Steel Market Update (SMU) Price Momentum Index (MoMo) for hot rolled steel in the United States indicated prices continue to rise, albeit at a slightly slower pace than what we measured last week. MoMo has been positive (indicating higher prices) for the last 22 weeks, following a 21 week negative streak. MoMo is a trailing […]