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, […]
According to Baker Hughes data from October 10th 2014, the U.S rig count for this week is 1,930 rigs exploring for or developing oil or natural gas. This count represents an increase of 8 rigs compared to last week, with oil rigs up 18 to 1,609 rigs, gas rigs down 10 to 320 rigs, and […]
Apparent steel supply for August was 10,252,449 net tons, down slightly from July which was the largest tonnage month since the beginning of the Great Recession. Apparent steel supply is calcualted by adding domestic shipments and finished US imports and subtracting total US exports. Note that our Premium member analysis breaks down apparent steel supply […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. indicates hot rolled coil price momentum fell this week for the seventh 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 against […]
Final steel imports totaled 3,698,435 net tons (3,355,168 metric tons) for the month of August, down 4.2 percent from 3,858,692 tons in July but up 28.5 percent from 2,878,367 tons August of last year. On a 12 month moving average (12MMA) basis, total steel imports through August are at the highest level recorded in our […]
Below is a press release issued by The American Institute for International Steel (AIIS) titled “Steel Exports Show Monthly Increase, Yearly Decline” Falls Church, VA. October 7, 2014. Steel exports from the United States bounced back in August following a late spring-early summer dip. August exports increased 4.1 percent from their July level to total […]
The Bureau of Labor Statistics (BLS) report on non-farm employment indicated that 248,000 jobs were added in September. August , which had been disappointing, was revised up by 38,000 and July was revised up by 31,000. The three month moving average, (3MMA) declined to 224,000 in September and has declined for three straight months but […]
For the week ending October 4, 2014, the American Iron & Steel Institute (AISI) estimated that the U.S. steel industry produced 1,825,000 net tons (NT) of raw steel, a 1.1 percent decrease over the previous week and a 1.4 percent decrease over the same week one year ago. The estimated capacity utilization rate is 75.9 […]
One of the first things that we noticed when looking at the graph below is all of the “neutral” arrows (yellow arrows in SMU Pricing Momentum) going across the full spectrum of the table shown. We went back to see at what point did we move our Momentum to Neutral and found we made the […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. showed hot rolled coil price momentum falling this week for the sixth week in a row after being in positive territory for the previous four weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the […]
As we try to point out on regular basis, import license data is an imperfect program and can only suggest what ballpark the final number will be in. Last week the import license data was suggesting September would meet or exceed 4.0 million net tons (all products). Based on license data updated on September 30th, […]
For the week ending September 27, 2014, the American Iron & Steel Institute (AISI) estimated that the U.S. steel industry produced 1,846,000 net tons (NT) of raw steel, a 2.4 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 76.7 […]
According to Baker Hughes data from September 26th 2014, the U.S rig count for this week is 1,931 rigs exploring for or developing oil or natural gas. This count is unchanged compared to last week, with oil rigs down 9 to 1,592 rigs, gas rigs up 9 to 338 rigs, and miscellaneous rigs unchanged at […]
Foreign steel imports accounted for 27 percent of the August 2014 monthly usage and a like percentage for annual steel usage according to data just released by the American Iron and Steel Institute (AISI). Foreign imported steel tonnage was lower in August than the prior month but is way ahead of the tonnage received in […]
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 export price with adders for freight, handling, trader margin, etc., against the spot […]