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 […]
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 […]