According to Baker Hughes data from May 2nd, 2014, the U.S rig count for this week is 1,854 rigs exploring for or developing oil or natural gas. This count is a decrease of 7 rigs when compared to last week, with oil rigs down 7 to 1,527 rigs, gas rigs unchanged at 323 rigs, and […]
The American Iron and Steel Institute (AISI) commented on a report released earlier today by the Center for American Progress (CAP) regarding China’s Economic Reform. The AISI stated that CAP’s article indicates that economic reforms announced by Chinese leadership last fall will do nothing to mitigate China’s state-ownership and control over key industrial sectors, including […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S was positive this week for the 4th week in a row after being in negative territory for the prior 10 weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) […]
Prices moved sideways this week as buyers digest the $30 per ton of movement made in benchmark hot rolled pricing going back to the beginning of the month of April. Steel Market Update is aware there are a number of domestic mills who have made “internal” spot price adjustments, taking price offers from $34.25/cwt ($685 […]
For the week ending April 26, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,835,000 net tons (NT) of raw steel, a 1.5 percent increase over the previous week but a 0.1 percent decrease over the same week one year ago. The estimated capacity utilization rate is 76.3 […]
Flat rolled steel prices continued to rise for the 6th week (according to SMU HRC average) with the benchmark hot rolled coil price average just below $680 per ton and just a few dollars away from the $685 announced by Nucor and a number of other mills at the beginning of April. For the first […]
According to Baker Hughes data from April 25th, 2014, the U.S rig count for this week is 1,861 rigs exploring for or developing oil or natural gas. This count is an increase of 30 rigs when compared to last week, with oil rigs up 24 to 1,534 rigs, gas rigs up 7 to 323 rigs, […]
Earlier this week Steel Market Update published slab receipts and flat rolled sales for Novolipetsk (NLMK). We inadvertently used the Russian flat rolled figures in our comparison rather than the US data. Below is a correction to the article and table. We apologize for our error. Hot rolled steel tonnage sold by NLMK USA during […]
The U.S. Department of Commerce released preliminary steel import census data for March and reported total steel imports at 3,218,914 net tons (NT). Compared to February, March imports are down by 2.0 percent or 66,960 NT. Compared to the same month one year ago, total March 2014 imports are up 25.2 percent or 648,510 NT. […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S was positive this week for the 3rd week in a row after being in negative territory for the prior 10 weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) […]
Details on steel trade data out of China were released earlier this week regarding iron ore imports, steel scrap imports, and flat rolled imports and exports. Chinese imports of iron ore during March were 73,960,000 metric tons (MT), an increase of 20.8 percent from the previous month and an increase of 14.6 percent from March […]
For the week ending April 19, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,808,000 net tons (NT) of raw steel, a 1.3 percent increase over the previous week but a 1.6 percent decrease over the same week one year ago. The estimated capacity utilization rate is 75.2 […]
The spread between the world hot rolled export price and the SMU USA HR price has widened since our last update by $39 per net ton (NT). The current spread is at the highest level since our data history began at the start of 2012. Based on the latest SteelBenchmarker price report, the world HR […]
According to Baker Hughes data from April 17th, 2014, the U.S rig count for this week is 1,831 rigs exploring for or developing oil or natural gas. This count is unchanged when compared to last week, with oil rigs down 7 to 1,510 rigs, gas rigs up 6 to 316 rigs, and miscellaneous rigs up […]
Canadian service center steel shipments for all carbon steel products were reported at 499,700 net tons (NT) in March, up 11.4 percent over February figures and up 5.8 percent from March 2013 shipments. With 21 shipping days in March, daily steel shipments are calculated to have been 23,800 tons per day, up from 22,400 tons […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S was positive this week for the 2nd week in a row after being in negative territory for the prior 10 weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) […]
Steel Market Update found flat rolled steel prices to be higher this week. As mentioned in our first article, pricing is not even across the country and we are seeing some flexibility in the numbers in the south compared to those in the Midwest. The Midwest is where all of the mill production disruptions are […]
For the week ending April 12, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,785,000 net tons (NT) of raw steel, a 1.3 percent increase over the previous week but a 2.8 percent decrease over the same week one year ago. The estimated capacity utilization rate is 74.2 […]
The following is a release from the The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on U.S. Heating and Cooling Equipment Shipment Data for the month of February 2014: Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for February 2014 increased 5.8 percent, to 366,057 units, up from 345,853 units shipped in February […]
According to Baker Hughes data from April 11th, 2014, the U.S rig count for this week is 1,831 rigs exploring for or developing oil or natural gas. This count is an increase of 13 rigs when compared to last week, with oil rigs up 19 to 1,517 rigs, gas rigs down 6 to 310 rigs, […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S turned positive this week after being in negative territory for the prior 10 weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements against the previous 12-week average […]
Apparent steel supply for February was 9,002,702 net tons, an 8.5 percent increase compared to the same month one year ago. This is due to an increase in finished imports and domestic shipments but a decrease in total US exports. The net trade balance between imports and exports was a surplus of 2,381,742 net tons […]
The American Institute for International Steel reported “February 2014 showed mixed to disappointing results for U.S. steel exports.” The following report is from an AIIS press release regarding exports of steel out of the domestic (US) mills during the month of February. Key to the data is NAFTA exports which, according to the AIIS, represent […]
For the week ending March 29, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,762,000 net tons (NT) of raw steel, a 3.2 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 73.3 […]
Every year the metals industry in the Chicago area produces a fund-raiser for the Boy Scouts of America. As the years have gone by, the dinner has become one of the premium networking opportunities for those associated in the steel and non-ferrous metals industries. We have heard this year’s event, which will be held at […]
Total steel exports decreased 6.1 percent in February over January to 904,131 net tons (NT), below both the 3 and 12 month moving averages (MMA). Compared to the same month last year, total February exports were down 12.8 percent. Of the select products we follow at Steel Market Update, hot rolled exports showed the greatest […]
According to Baker Hughes data from April 4th, 2014, the U.S rig count for this week is 1,818 rigs exploring for or developing oil or natural gas. This count is an increase of 9 rigs when compared to last week, with oil rigs up 11 to 1,498 rigs, gas rigs down 2 to 316 rigs, […]
The US Department of Commerce released Final Census numbers for the month of February 2014. The 3,285,874 net tons was the highest level for imports since July 2007 when they were 3,288,054 NT. In the table below we have provided updated twelve month and three month moving averages through the month of February. The March […]
In an email sent late in the afternoon on Monday, March 17th, ArcelorMittal USA announced a price increase on all of their new flat rolled orders, with specific base prices at $33.00 for hot rolled, $39.50 for cold rolled, and $39.50 for galvanized. The mill justified their increase by stating “Despite the recent drop in […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S remained slightly negative this week for the 10th consecutive week after being in positive territory for the prior 15 weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price […]