Steel Market Update’s monthly analysis of Key Market Indicators–a host of data on the economy, raw materials, manufacturing, construction, and steel sheet and long products–shows that the marketplace continues to improve, albeit cautiously. At the onset of COVID-19 a year ago, the impact of the pandemic on the economy was delayed, with only 3 of […]
Editor’s note: Steel Market Update is pleased to share this Premium content–an edited version of our Key Market Indicators analysis–with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Steel Market Update’s monthly analysis of Key Market Indicators–a host of data on the economy, raw materials, manufacturing, construction, and steel […]
This report examines the import share of sheet, plate, long and tubular products. As of January, imports’ share of total sheet products was 12.8%, up marginally from 12.3% in December. Although minimal, imports of sheet products have posted increases for two consecutive months after declining for seven consecutive months following the most recent peak of 16.6% […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Mill shipments of steel products rose 6.9% month on month in January, while apparent supply was up by nearly 13.5% during the same period. Despite the continued growth month over month since […]
The U.S. economy added 379,000 jobs in February, making the first positive move in three months, reported the Bureau of Labor Statistics (BLS). The unexpected increases were driven by large job gains in the nation’s service and entertainment industries as the economy continues to recover. The jobs data was the strongest since October, resulting from a […]
After dismal reports for the U.S. labor market in December and January, February saw positive gains in employment. The U.S. Bureau of Labor Statistics (BLS) reported that employers added 379,000 to their payrolls in February, as vaccinations and business reopenings gave the economy a boost. Despite the added jobs this past month, the unemployment rate […]
U.S. gross domestic product (GDP) closed out 2020 on an encouraging note with annualized growth of 4.1%, based on the second estimate from the Bureau of Economic Analysis (BEA). The second estimate included upward revisions to residential fixed investment, private inventory investment, and state and local government spending, partly offset by a downward revision to personal […]
U.S. Steel plans to take a 25-day outage in May on the No. 1 blast furnace at its Mon Valley Works in western Pennsylvania, a company spokeswoman confirmed. The outage is part of the steelmaker’s normal maintenance program, she said. The maintenance is to apply shotcrete–a sprayed concrete–and other standard upkeep, sources said. Smaller outages are planned […]
U.S. Steel plans to take a 25-day outage in May on the No. 1 blast furnace at its Mon Valley Works in western Pennsylvania, a company spokeswoman confirmed. The outage is part of the steelmaker’s normal maintenance program, she said. The maintenance is to apply shotcrete–a sprayed concrete–and other standard upkeep, sources said. Smaller outages are planned […]
Global crude steel production totaled 162.9 million tons in January, up 1.3% from the month prior and up 4.8% year over year when total production was 155.5 million metric tons. The U.S. was the fourth largest producer, accounting for 5.6% of total global crude steel produced in January at 9.6 million metric tons, while China […]
Weekly raw steel production by U.S. mills totaled 1,749,000 tons in the week ending Feb. 27, up 0.2% from the week prior when production was 1,745,000 tons. Although marginal, raw steel production was up for a third consecutive week. The mill utilization rate was 77.2%, up from 77.0% one week ago, yet down 7.0% from the […]
U.S. raw steel production saw a small increase for the fourth consecutive week as domestic mills strive to meet robust demand. Weekly steel production by U.S. mills totaled 1,755,000 tons in the week ending March 6, up 0.3% from the week prior when production was 1,749,000 tons. The mill utilization rate last week averaged 77.4%, […]
Executives at Ryerson, the nation’s second largest service center company, remain optimistic about their prospects for 2021, even after reporting a net loss of $65.8 million on revenues of $3.47 billion in 2020. The company saw a 23% drop in sales last year due to the pandemic. Revenues improved by 2.6% in the fourth quarter […]
The latest consumer confidence data from The Conference Board indicates that consumers remain cautiously optimistic about the economy. February consumer confidence data showed gains across most inputs; however, the survey results were gathered prior to the Texas power crisis resulting from the recent winter storm and could paint a partial picture of current sentiment. Nevertheless, there […]
Weekly raw steel production by U.S. mills totaled 1,745,000 tons in the week ending Feb. 20, up just 0.1% from the week prior when production was 1,743,000 net tons. Despite the marginal increase, raw steel production was up for the second consecutive week. The mill utilization rate was 77.0%, up from 76.9% one week ago, […]
Mill shipments and supply of sheet products rose by nearly 6.5% month on month in December, a positive close to 2020. Plagued earlier on by COVID, sheet shipments stalled in last year’s second quarter. After reaching bottom in June, they have climbed steadily since. This analysis is based on steel mill shipment data from the […]
This report is an analysis of Bureau of Labor Statistics (BLS) data and is intended to provide subscribers with a view of the competitive position of sheet steel, aluminum, plastic and wood. The analysis includes some downstream products and a comparison of truck and rail transportation. On Feb. 17, the BLS released its series of […]
Auto assemblies in North America took a step back in January after seeing a strong end to 2020. Although the U.S. market continues to rebound from the effects of the pandemic, domestic light vehicle sales fell by 3.1% in January compared to year-ago levels, according to LMC Automotive (LMCA). Canada’s light vehicle sales were down […]
In order to slow climate change, steel and aluminum producers around the world will have to go through a fundamental transformation to reduce their greenhouse gases. CRU Group has developed an Emissions Analysis Tool to help them measure and control harmful GHG emissions. More than 700 participants logged into a Feb. 17 webinar to view […]
Soaring prices and delivery delays for steel, lumber and other materials are squeezing the finances of construction firms already burdened by the pandemic, said the Associated General Contractors of America. The trade group called on the Biden administration to review and rescind a range of trade tariffs, which it claims are contributing to unmanageable price […]
Weekly raw steel production by U.S. mills continues to fluctuate–up five of the last seven weeks–as the week ending Feb. 13 totaled 1,743,000 net tons, up 2.2% from the week prior when production was 1,705,000 tons. The mill utilization rate was 76.9%, up from 75.2% one week ago, yet down 5.5% compared with the same […]
Steel product shipments continued to improve through December, reporting an increase for the ninth consecutive month. Steel product shipments exceeded pre-pandemic levels to close out the year following a steady but slow rebound since reaching bottom in April 2020, according to Census Bureau data on inventories, shipments and new orders for total U.S. manufacturing and […]
This report examines the import share of sheet, plate, long and tubular products. As of December 2020, imports’ share of total sheet products was 12.3%, up from 11.4% in November. The increase, albeit marginal, is notable as it’s the first increase for imports after declining for seven consecutive months following the most recent peak of 16.6% in […]
Total construction expenditures rose further in January to about $1.52 trillion, up 1.7% from December’s revised estimate of $1.50 trillion, reported the U.S. Census Bureau. The year-on-year comparison is rather remarkable, as the January figure is 5.8% above the year-ago, pre-pandemic estimate of $1.44 trillion. Although the economy is still in recovery mode, the construction sector continues to […]
Weekly raw steel production by U.S. mills totaled 1,705,000 net tons in the week ending Feb. 6, 2021, a decrease of 1.2 percent compared with the week prior when production was 1,725,000 net tons. Raw steel production in the early going of 2021 has fluctuated week on week. The average mill utilization rate dipped to 75.2 […]
Auto assemblies in North America bounced back robustly and surpassed pre-pandemic levels to close out 2020. Despite a production shutdown in March to stop the spread of COVID-19, U.S. auto sales ended the year just slightly below the initial 16.7 million forecast at 16.4 million units, according to LMC Automotive (LMCA). U.S. Vehicle Sales Figure […]
Total construction expenditures rose further in December 2020 to $1,490.4 billion, a 1.0 percent gain on the revised November estimate of $1,475.6 billion, according to the U.S. Census Bureau. Despite a health crisis that marred most of 2020, year on year the figure is 5.7 percent above the December 2019 estimate of $1,410.3 billion. The report goes […]
Weekly raw steel production by U.S. mills totaled 1,725,000 net tons in the week ending Jan. 30, resuming a positive move after a small dip the week prior. Production was up 0.5 percent from the week before when the total was 1,717,000 net tons. The mill utilization rate was 76.1 percent, up from 75.7 percent […]
Weekly raw steel output by U.S. mills, which had increased for the prior three weeks, took a small step back in the week ending Jan. 23 with total production of 1,717,000 net tons, down 1.6 percent from the week before. The mill utilization rate was 75.7 percent, down from 76.7 percent week on week and […]
Continuing the uptrend from last year, weekly raw steel production by U.S. mills totaled 1,738,000 net tons in the week ending Jan. 16, up 1.7 percent from the week prior when the total was 1,709,000 net tons. The mill utilization rate was 76.7 percent, up from 75.4 percent week on week, yet still down 8.8 […]