The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. showed hot rolled coil prices as falling this week for the fifth 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 […]
Chinese steel trade data was recently released for the month of August 2014, providing updated data on iron ore imports, steel scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in August were 74,880,000 metric tons, a decrease of 9.3 percent from the previous month but an increase of 8.5 percent […]
For the week ending September 20, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,891,000 net tons (NT) of raw steel, a 0.5 percent increase over the previous week and a 0.9 percent increase over the same week one year ago. The estimated capacity utilization rate is 78.6 […]
The following article was originally published in our Premium edition of Steel Market Update last week after the MSCI shipment and inventory data was released. Service Center Apparent Inventory Deficit/Excess is one of the proprietary products available for our Premium Level customers. We thought our Executive customers might be interested in how our forecast did […]
Steel Market Update nailed (in our opinion) last month’s forecast for August. We projected that the -193,000 tons deficit from the end of July (based on our proprietary formula for what a balanced flat rolled inventory level should be for the U.S. service centers) would be eliminated and move into a very small excess situation. […]
According to Baker Hughes data from September 19th 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 up 9 to 1,601 rigs, gas rigs down 9 to 329 rigs, and miscellaneous rigs unchanged at […]
Canadian shipments for all steel products in the month of August were 456,600 net tons, a decrease of 5.3 percent from the month before and a decrease of 4.6 percent from August 2013. Inventories at the end of the month stood at 1,499,500 tons, up 2.2 percent from last month and up 8.0 percent from […]
Steel Market Update (SMU) conducted our mid-September flat rolled steel market analysis this week. We invited slightly more than 600 companies to participate in the latest survey which analyzes various trends which affect the flat rolled steel market. One set of questions had to do with the consolidation of the steel mills as SDI and […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained negative this week for the fourth 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 current hot rolled coil (HRC) […]
Below is the latest press release issued by the The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on residential and commercial heating and cooling equipment shipments through July 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 July 2014 increased 7.5 […]
According to Baker Hughes data from September 12th 2014, the U.S rig count for this week is 1,931 rigs exploring for or developing oil or natural gas. This count is an increase of 6 rigs when compared to last week, with oil rigs up 8 to 1,592 rigs, gas rigs down 2 to 338 rigs, […]
The supply of sheet products had strong positive growth in the 3 months period May – July year over year (y/y) led by cold rolled which was up by 19.4 percent, (Table 1). In total on this basis sheet products were up by 14.8 percent. The sources of this analysis are the Commerce Department trade […]
Chinese steel trade data was recently released for the month of July 2014, providing updated data on iron ore imports, steel scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in July were 82,520,000 metric tons, an increase of 10.7 percent from the previous month and an increase of 12.8 percent […]
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 […]
Steel Market Update (SMU) decided to show you an analysis of the various galvanized steel coating extras in a slightly different way. We wanted to show you the mills who extras vary from one another and those who are using extras which are produced by another mill (such as USS or Nucor). We want to […]
Apparent steel supply for July was 10,588,648 net tons, the highest figure Steel Market Update has in its recorded history back to January 2010. Steel Market Update calculates apparent steel supply by adding domestic shipments and finished US imports and subtracting total US exports. July supply represents a 1,383,999 ton or 15.0 percent increase compared […]
For the week ending September 6, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,885,000 net tons (NT) of raw steel, a 1.5 percent decrease over the previous week but a 0.5 percent increase over the same week one year ago. The estimated capacity utilization rate is 78.4 […]
For the week ending August 30, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,913,000 net tons (NT) of raw steel, a 1.0 percent decrease over the previous week but a 3.0 percent increase over the same week one year ago. The estimated capacity utilization rate is 79.5 […]
According to Baker Hughes data from August 29th 2014, the U.S rig count for this week is 1,914 rigs exploring for or developing oil or natural gas. This count is an increase of 18 rigs when compared to last week, with oil rigs up 11 to 1,575 rigs, gas rigs up 8 to 338 rigs, […]
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 […]
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of July 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 […]
Buyers of galvanized steel know that one of the most critical pieces of building pricing is adding the cost charge by the steel mill to apply zinc to steel. If you have had a chance to explore the ‘Resources‘ section of the Steel Market Update website, you may have come across our Steel Mill section […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. turned negative this week 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 current hot rolled coil (HRC) price movements against the previous 12-week average […]
Based on our conversations with steel buyers and analysis of the data we received from steel mills, service centers and end users, we saw some slippage in flat rolled steel prices this week. Not enough to change our position (Neutral) on the market. But, there was enough to make us sit up and take notice. […]
For the week ending August 23, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,932,000 net tons (NT) of raw steel, a 0.7 percent increase over the previous week and a 4.0 percent increase over the same week one year ago. The estimated capacity utilization rate is 80.3 […]
According to Baker Hughes data from August 22, 2014, the U.S rig count for this week is 1,896 rigs exploring for or developing oil or natural gas. This count is a decrease of 17 rigs when compared to last week, with oil rigs down 25 to 1,564 rigs, gas rigs up 9 to 330 rigs, […]
The latest Architecture Billings Index (ABI) score was released on Wednesday morning, reporting that the latest index was the highest since July 2007. The ABI score for July was 55.8, a jump up from June’s score of 53.5. Note that the index is centered around 50, with scores above 50 indicating an aggregate increase in […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained positive this week for the fourth consecutive week after being in negative territory for the prior six weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements […]
“Everyone wants business,” is how the conversation began with one of our Midwest service center sources. “Everyone has steel to sell,” is what he told us. However, he admitted that the bottom has not dropped out of this market. That feeling of concern was heard in a number of places. Flat rolled steel prices seem […]
Canadian shipments for all steel products in the month of July were 482,400 net tons, an increase of 0.3 percent from the month before and an increase of 5.0 percent from July 2013. Inventories at the end of the month stood at 1,467,800 tons, up 5.5 percent from last month and up 0.4 percent from […]