According to Baker Hughes data from June 27th, 2014, the U.S rig count for this week is 1,873 rigs exploring for or developing oil or natural gas. This count is an increase of 15 rigs when compared to last week, with oil rigs up 13 to 1,558 rigs, gas rigs up 3 to 314 rigs, […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S was negative this week for the second week in a row after being in positive territory for the prior ten weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) […]
Steel Market Update spent an extraordinary amount of time on today’s price ranges and averages. There has been a lot written recently about demand supporting prices and the lack of supply supporting prices. However, the deeper we dug the more questions we began to ask about what is real and what is a little murky. […]
The latest steel import census data has preliminary imports at 4,016,437 net tons in May, the highest tonnage levels seen since 2006. May represents a 7.4 percent increase over the previous month and an increase of 1,178,145 tons or 41.5 percent compared to May 2013. Foreign steel now represents 28 percent of the steel market. […]
For the week ending June 21, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,880,000 net tons (NT) of raw steel, a 1.6 percent increase over the previous week and a 3.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 78.2 […]
AK Steel (NYSE: AKS) provided guidance for its Q2 2014 financial results today. The full press release can be viewed here. Below are key sections of the report: AK Steel said it “expects to report a net loss of $0.19 to $0.23 per diluted share of common stock, which is a substantial improvement over its […]
Nucor Corporation (NYSE: NUE) announced today guidance for Q2 ending July 5, 2014. The full press release can be viewed here. Below are key sections of the report: Nucor expects second quarter results to be in the range of $0.35 to $0.40 per diluted share. This range represents an increase from the second quarter of 2013 […]
Canadian shipments for all steel products in the month of May were 509,700 net tons, an increase of 2.7 percent from the month before, but a decrease of 1.0 percent from May 2013. Inventories at the end of the month stood at 1,384,900 tons, down 3.3 percent from last month and down 9.0 percent from […]
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 ten 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 […]
Steel Market Update is seeing some slippage in flat rolled steel prices this week when compared to one week ago. Most of the changes came at the lower end of the range and the trend we are seeing is for prices to continue to slowly slip over the next 30 days. As we mentioned in […]
For the week ending June 14, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,845,000 net tons (NT) of raw steel, a 0.3 percent increase over the previous week and a 1.4 percent increase over the same week one year ago. The estimated capacity utilization rate is 76.9 […]
Below is a release published by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on residential and commercial shipments of water heaters, warm air furnaces, central air conditioners, and air-source heat pumps during the month of April. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for April 2014 decreased 1.9 percent, […]
According to Baker Hughes data from June 13th, 2014, the U.S rig count for this past week was 1,854 rigs exploring for or developing oil or natural gas. This count is a decrease of 6 rigs when compared to the prior week, with oil rigs up 6 to 1,542 rigs, gas rigs down 10 to […]
World export prices for hot rolled bands was pegged at $504 per net ton ($556 per metric ton) according to data released by SteelBenchmarker earlier this week. This world hot rolled export price is up $3 per ton compared to the last set of data received about two weeks ago. With an estimated $70 per […]
World export prices for hot rolled bands was pegged at $504 per net ton ($556 per metric ton) according to data released by SteelBenchmarker earlier this week. This world hot rolled export price is up $3 per ton compared to the last set of data received about two weeks ago. With an estimated $70 per […]
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S was positive this week for the tenth week in a row after being in negative territory for the prior ten weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) […]
Trying to keep up with steel prices and production is proving to be quite an exercise. As we were preparing to publish we were chasing a story about AK Steel having issues with their Ashland blast furnace. At the same time we are gathering data from large buyers that is taking the lower end of […]
We are now one-third of the way through the month of June, far enough along to begin doing our analysis of the US Department of Commerce license data on imports. The data is showing us that the surge of imports grew during the month of May and will continue into the month of June. We […]
April ferrous scrap exports totaled 1,476,282 net tons (1,339,262 metric tons) with Turkey, Taiwan, Korea, Mexico, and China being the top five importing countries. These countries accounted for 73.2 percent of all scrap exports. Total April ferrous scrap exports were 0.7 percent higher than previous month and 36.7 percent higher than the same month one […]
For the week ending June 7, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,845,000 net tons (NT) of raw steel, a 2.6 percent decrease over the previous week but a 1.2 percent increase over the same week one year ago. The estimated capacity utilization rate is 76.7 […]
The U.S. Department of Commerce released final census data regarding exports of steel out of the U.S. steel mills this past week. According to the US DOC data, the domestic mills exported a total of 1,079,723 net tons of steel products during the month of April 2014. This is in line with the previous two […]
The U.S. steel mills exported 1 million tons of steel during the month of April. This is within the 12 month moving average and only slightly higher than the 1,041,387 net tons shipped in April 2013. During the same month (April 2014) foreign imports rose by 999,557 net tons compared to the same period one […]
Apparent steel supply for April was 9,925,287 net tons, the highest figure Steel Market Update has in its recorded history beginning in January 2010. April supply represents an 831,098 ton or 9.1 percent increase compared to the same month one year ago. This is primarily due to the massive spike in April imports, up 36.5 […]
According to Baker Hughes data from June 6th, 2014, the U.S rig count for this week is 1,860 rigs exploring for or developing oil or natural gas. This count is a decrease of 6 rigs when compared to last week, with oil rigs unchanged at 1,536 rigs, gas rigs down 6 to 320 rigs, and […]
The past few weeks have been dire for the futures market in terms of volumes or price volatility. While the physical market has peaked for now, the futures market remains in a strong backwardation with prices for second half the year and calendar year 2015 stuck between 620-630 per ton. While the global picture, particularly […]
Steel inputs were steady to down during the month of May. Scrap prices declined $18 to $3 per ton while iron ore prices were down $20.60 to $13.60 per ton. Zinc and Aluminum prices showed a slight increased of $0.0105 to $0.0074 per pound.
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S was positive this week for the 9th 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 prices are starting to slip. We have found a number of mills making price adjustments to their flat rolled steel offers over the past 24-48 hours. The steel mills are attempting to keep the reductions as minimal and quiet as possible. We are posting reductions in our averages, most occurring due to reductions on […]
For the week ending May 31, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,895,000 net tons (NT) of raw steel, 1.1 percent increase over the previous week and a 3.4 percent increase over the same week one year ago. The estimated capacity utilization rate is 78.8 percent, […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered at present is thirty five, the Chicago Fed Mid-West Manufacturing Index is still on hold to enable the staff to complete a major re-vamp of the […]