With crude oil prices breaking through $80 per barrel, all eyes are on the Baker Hughes rig count data. The question is will the lower oil prices affect the number of wells being drilled? Most assume there will be an impact however, it could have a lag effect and take time before there is a […]
The following is a “hypothetical” calculation of the spread between world hot rolled export prices and domestic (USA) hot rolled prices. SMU compares the world hot rolled export price with hypothetical adders for freight, handling, trader margin, etc. This is then compared to the spot (FOB Mill) domestic hot rolled price using the SMU Hot […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. indicates hot rolled coil price momentum continued its downward trend for the twelfth week in a row. MoMo, which is a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements […]
For the week ending November 8, 2014, the American Iron & Steel Institute (AISI) estimated that the U.S. steel industry produced 1,839,000 net tons (NT) of raw steel, a 1.3 percent increase over the previous week and a 0.7 percent increase over the same week one year ago. The estimated capacity utilization rate is 76.5 […]
I have been in New York City since Sunday. I am participating in a panel on Wednesday at the Cowen & Company conference. Steel people don’t get to attend most of the financial related conferences. The attendees tend to be hedge fund managers and investors. Their perspectives of the steel industry can be quite different […]
Apparent steel supply for September was 10,305,707 net tons, the third biggest month since the beginning of the Great Recession. Apparent steel supply is calculated by adding domestic shipments and finished US imports and subtracting total US exports. Note that our Premium member analysis breaks down apparent steel supply by flat and long products. September […]
With crude oil prices breaking through $80 per barrel, all eyes are on the Baker Hughes rig count data. The question is will the lower oil prices affect the number of wells being drilled be affected? Most assume there will be an impact however, it could have a lag effect and take time before there […]
Below is a press release issued by the American Institute for International Steel (AIIS) regarding September steel exports. Falls Church, VA. November 6, 2014. The United States’ steel exports declined slightly in September, though they remained just above their level of a year earlier. Exports dipped 1.4 percent from August to 1.03 million net tons. […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. indicates hot rolled coil price momentum continued its downward trend for the eleventh week in a row. MoMo, which is a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements […]
For the week ending November 1, 2014, the American Iron & Steel Institute (AISI) estimated that the U.S. steel industry produced 1,815,000 net tons (NT) of raw steel, a 1.1 percent decrease over the previous week and a 0.9 percent decrease over the same week one year ago. The estimated capacity utilization rate is 75.5 […]
Chinese steel trade data was recently released for the month of September 2014, providing updated data on iron ore imports, steel scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in September were 84,695,000 metric tons, an increase of 13.1 percent from the previous month and an increase of 13.6 percent […]
For the majority of the month of October, the SMU Steel Price Momentum Indicator was referencing lower prices for the next 30 to 60 day period. At the end of the month, we revised our Indicator to Neutral due to AK Steel, US Steel and Nucor having made $20 per ton price increase announcements. It […]
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of September 2014. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates. Total raw steel production for the […]
According to Baker Hughes data from October 31st 2014, the U.S rig count for this week is 1,929 rigs exploring for or developing oil or natural gas. This count represents an increase of 2 rigs compared to last week, with oil rigs down 13 to 1,582 rigs, gas rigs up 14 to 346 rigs, and […]
The following is a “hypothetical” calculation of the spread between world hot rolled export prices and domestic (USA) hot rolled prices. SMU compares the world hot rolled export price with hypothetical adders for freight, handling, trader margin, etc. This is then compared to the spot (FOB Mill) domestic hot rolled price using the SMU Hot […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. indicates hot rolled coil price momentum continued its downward trend for the tenth week in a row. MoMo, which is a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements […]
According to Baker Hughes data from October 24th 2014, the U.S rig count for this week is 1,927 rigs exploring for or developing oil or natural gas. This count represents an increase of 9 rigs compared to last week, with oil rigs up 5 to 1,595 rigs, gas rigs up 4 to 332 rigs, and […]
A note to our Premium members- our survey data will be published on the SMU website by 3 PM today. It can be accessed under the Analysis Tab through the Survey Results menu. We recently added a menu option within the Survey Results section to include a history of past survey results. If you need […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. indicates hot rolled coil price momentum continued its downward trend for the ninth week in a row. MoMo, which is a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements […]
I spent a good portion of this week either in Louisiana or traveling to and from the state. I attended an energy conference at Louisiana State University (LSU) which I found to be fascinating. I found out how little I knew about the various drilling operations for oil and natural gas and how far the […]
The following is our October analysis of the flat rolled and OCTG imports based on license data through October 21, 2014. As we have mentioned many times, license data is not exact and many times can lead one to over or under project final steel import numbers. We have seen license data for the first […]
For the week ending October 18th, 2014, the American Iron & Steel Institute (AISI) estimated that the U.S. steel industry produced 1,822,000 net tons (NT) of raw steel, a 1.0 percent increase over the previous week but a 0.5 percent decrease over the same week one year ago. The estimated capacity utilization rate is 75.7 […]
For the week ending October 25th, 2014, the American Iron & Steel Institute (AISI) estimated that the U.S. steel industry produced 1,835,000 net tons (NT) of raw steel, a 0.7 percent increase over the previous week and a 0.2 percent decrease over the same week one year ago. The estimated capacity utilization rate is 76.3 […]
According to Baker Hughes data from October 17th 2014, the U.S rig count for this week is 1,918 rigs exploring for or developing oil or natural gas. This count represents a decrease of 12 rigs compared to last week, with oil rigs down 19 to 1,590 rigs, gas rigs up 8 to 328 rigs, and […]
Canadian shipments for all steel products in the month of September were 494,400 net tons, an increase of 8.3 percent from the month before and an increase of 4.1 percent from September 2013. Inventories at the end of the month stood at 1,511,400 tons, up 0.8 percent from last month and up 16.5 percent from […]
The following is a “hypothetical” calculation of the spread between world hot rolled export prices and domestic (USA & Canada) hot rolled prices. Actual HRC price spreads can vary based on freight costs, trader margins and other factors. SMU compares the world hot rolled export price with adders for freight, handling, trader margin, etc., against […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. indicates hot rolled coil price momentum continued its downward trend for the eighth week in a row. MoMo, which is a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements […]
Steel Market Update (SMU) is changing the way we look at the import license data. As we have mentioned on numerous occasions, the steel import license data can only provide an idea as to how imports are shaping up for the current month. The licenses received have been tending to surge at the beginning of […]
For the week ending October 11, 2014, the American Iron & Steel Institute (AISI) estimated that the U.S. steel industry produced 1,804,000 net tons (NT) of raw steel, a 1.2 percent decrease over the previous week and a 1.5 percent decrease over the same week one year ago. The estimated capacity utilization rate is 75.0 […]
Below is the latest data issued by the The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through August 2014. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for August 2014 decreased 4.0 percent, […]