North American auto assemblies edged down in February vs. the prior month, according to LMC Automotive data. While assemblies did fall month on month (m/m), they are up nearly 3% year on year (y/y).
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US light-vehicle (LV) sales rose to an unadjusted 1.25 million units in February, up 9.6% vs. year-ago levels, the US Bureau of Economic Analysis (BEA) reported. The year-on-year (y/y) growth in domestic LV sales was boosted by a 6% month on month (m/m) gain.
Sheet and plate prices mostly moved lower this week after little change was noted the week prior. Despite edging down, sentiment is mixed, and many suggest a bottom may be near.
Domestic production of raw steel moved lower last week, slipping back down after recovering the week prior, according to the most recent data from the American Iron and Steel Institute (AISI).
Foreign cold-rolled coil (CR) remains significantly less expensive than domestic product even as US tags continue to decline in a hurry, according to SMU’s latest check of the market.
Steel Market Update’s Steel Demand Index recovered out of contraction territory on the heels of the pricing blitz from mills last week, according to our latest survey data.
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To the surprise of few if any, prices are in a holding pattern – a trend not seen since late December. The pause comes largely in response to a pricing notice blitz from mills late last week.
US hot-rolled coil (HRC) remains more expensive than offshore hot band, even as domestic prices remain under pressure. The premium domestic product had over imports for roughly five months now remains near parity as tags abroad and stateside inch down.
Sheet and plate prices were mostly flat this week – largely in response to the mill price blitz from last week – pausing the downtrend they’d been on for the better part of 2024.
Estelle Tran, prices lead at CRU, Michael Cowden, managing editor at SMU and Josh Spoores, principal analyst at CRU, will be the featured speakers on a special CRU webinar. It will take place on Thursday, March 21, at 10 a.m. ET. You can learn more and register here.
The construction sector added 23,000 jobs in February, boosted by nonresidential, according to the Associated General Contractors of America (AGC).
Domestic production of raw steel inched higher last week, recovering after declining the week prior, according to the most recent data from the American Iron and Steel Institute (AISI).
Domestic shipments of heating and cooling equipment were up marginally in January, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
The premium plate prices have held over hot-rolled coil (HRC) are nowhere near recent highs seen in 2022 but remain higher compared to historical levels.
The US plate market has been largely quiet over the past week since Nucor’s $90-per-ton price cut at the close of February.
US hot-rolled coil (HRC) is now just about 5% more expensive than offshore hot band. The premium domestic product had over imports for roughly five months is all but gone, and nearing parity.
Consumer confidence in the US declined in February after accelerating to a two-year high the month prior, The Conference Board reported. Results came in amid ongoing concerns regarding the US economy. The headline Consumer Confidence Index declined to 106.7 in February from a downwardly revised 110.9 in January. The index, which measures Americans’ assessment of […]
Flat-rolled steel prices have been running downhill in a hurry since the beginning of the year. In some ways, it's no surprise because other indicators have also been pointing lower for some time. Lead times have been contracting since the beginning of the year and are now below the five-week mark for hot-rolled (HR) coil for the first time since September. Mills are more willing to negotiate lower prices, and early reports seem to indicate that scrap might settle lower again in March.
Sheet and plate prices this week continued the downward trend they’ve been on for most of 2024. Some market sources predicted that a wave of spring maintenance outages would help to stabilize lead times and prices in the weeks ahead – especially should service center inventories, high at the beginning of the year, come down meaningfully.
Domestic production of raw steel declined slightly last week, moving down for the first time in six weeks, according to the most recent data from the American Iron and Steel Institute (AISI).
The latest SMU 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.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]
The premium US hot-rolled coil (HRC) held over offshore product for roughly five months has nearly vanished. Domestic hot band prices continue to run downhill at a high rate, erasing a $300/st gap they had over imported HRC just two months ago.
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its April order book.
US hot-rolled (HR) coil prices have fallen further this week, working their way to $800 per short ton (st) on average – a mark not seen since late October.
January’s import level was even higher than an earlier license count had suggested, making it the highest month for imports since June 2023.
Foreign cold-rolled coil (CR) remains much less expensive than domestic product even as prices in the US have declined at a rapid pace over the past month, according to SMU’s latest check of the market.
Domestic production of raw steel moved up again last week, improving for the fourth straight week, according to the most recent data from the American Iron and Steel Institute (AISI).
Rig counts in the US and Canada were mixed again for the week ended Feb. 23. The US saw totals move higher, while Canadian rig figures slipped week on week (w/w), Baker Hughes’ latest data shows. US rigs The number of active rotary rigs in the US expanded by five to 626 from the previous […]