Contributor: David Schollaert

North American auto assemblies gained ground in February, up more than 8% vs. January, but still down more than 4% year on year (y/y), according to GlobalData.

SMU’s Mill Order Index (MOI) eased in February. The result came as a marginal increase in service center intake levels was offset by higher shipments, according to our latest service center inventories data.

Global raw steel production declined 3.7% from January to an estimated 141.8 million metric tons (mt) in February, according worldsteel data. Output was one of the lowest totals over the past three years.

Construction spending edged down slightly in January, slipping for the first time in three months.

Nucor raised its consumer spot price (CSP) for hot-rolled (HR) coil to $1,025 per short ton (st), up $10/st from last week.

US service centers’ flat-rolled steel supply declined for a second consecutive month in February, with shipping days of supply slipping to 52.2 on an adjusted basis, according to SMU data.

The price gap between US hot-rolled coil (HR) and landed offshore product widened this week, as stateside tags were little changed.

Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in most offshore markets as well.

Oregon Steel Mills and SSAB Americas announced higher plate prices to close out the week.

SMU’s March ferrous scrap market survey results are now available on our website to all premium members.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week, as stateside tags continue to rise.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,005 per short ton (st), up $15/st from last week.

I grew up in Belo Horizonte, the capital of Minas Gerais in southeastern Brazil, surrounded by the Serra do Curral mountains, and a culture steeped in mining and vast iron ore reserves.

The price gap between US hot-rolled coil (HR/HRC) and landed offshore product remained largely flat again this week, as price movements stateside and abroad mirrored each other.

The total amount of raw steel produced around the world recovered 5.5% from December to an estimated 147.3 million metric tons in January, according worldsteel.

Total construction starts edged up 0.7% in January to an annualized rate of $1.24 trillion, according to Dodge Construction Network.

SMU’s Steel Demand Index slipped from earlier in the month, but remains above expansion territory, according to late-February indicators.

North American auto assemblies recovered in January, up nearly 12% vs. December, though down more than 2% year on year (y/y), according to GlobalData.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $990 per short ton (st), up $10/st from last week.

The latest Baker Hughes rig count report shows steady drilling for oil and gas in the US, while drilling in Canada improved slightly.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

SMU’s Mill Order Index (MOI) rose again in January, maintaining momentum from the month prior. The increase came as service center intake levels ticked up, supported by a jump in shipments, according to our latest service center inventories data.

US service centers’ flat-rolled steel supply declined in January, after trending higher in December. Shipping days of supply slipped to 58.5 on an adjusted basis at the end of January, according to SMU data.

The price gap between US hot-rolled coil (HR/HRC) and landed offshore product was largely flat this week, as price movements stateside and abroad mirrored each other. Still, the premium for US hot band over imports has remained in a relatively tight band since early December.

AZZ Inc. expects steady top-line growth and improved annual earnings, capitalizing on new capacity ramp-up and strong downstream demand.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $975 per short ton (st), up $5/st from last week.

The Dodge Momentum Index (DMI) fell 6.2% in January to 272.7, retreating from December’s downwardly revised reading of 291.0, according to the latest data released by Dodge Construction Network.

The price gap between US hot-rolled coil and landed offshore product narrowed this week, as price movements stateside and abroad diverged.

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]