The Senate voted its approval of the United States-Mexico-Canada Agreement in a sweeping 89-10 bipartisan vote on Thursday. The trade agreement now goes to President Trump for signature. The Canadian parliament is expected to follow suit, allowing the USMCA to be implemented later this year. The final agreement adds language addressing the internet, digital services and […]
Apparent U.S. steel supply slipped to 8.4 million net tons in November, according to data from the American Iron and Steel Institute and U.S. Department of Commerce. November supply is now at a three-year low, the lowest seen since November 2016 when supply was 8.1 million tons. Apparent steel supply, a proxy for demand, is […]
Domestic steelmakers increased their raw steel production for the second time this year, raising the average capability utilization to 82.5 percent in the week ending Jan. 11. Raw steel production totaled 1,923,000 net tons, up 1.3 percent from the previous week and up 2.8 percent compared with the same week last year, reported the American Iron […]
U.S. raw steel production in November fell 2.2 percent to 7,812,925 net tons, reported the American Iron and Steel Institute in Washington. November production is below the 2019 average of 8,063,863 tons and down 4.2 percent compared to the same month last year. Broken down by production method, 5,646,674 tons (72.3 percent) were produced by […]
Despite the holidays, domestic steelmakers managed to increase their mill utilization to 82.0 percent in the week ending Jan. 4. The last time weekly production was that high was in May 2019. Raw steel production totaled 1,898,000 net tons, up 1.2 percent from the previous week and up 2.0 percent compared with the same week […]
By CRU Analysts, from CRU’s Bulk Ferroalloys Monitor U.S. finished steel prices have risen following price increase announcements that found support from service center restocking. Adding to this price support was the scrap market, where scarcer supply and increased mill demand put prices on an upward trajectory. Some steel products have enjoyed quicker price gains […]
The Congressional Budget Office expects the U.S.-Mexico-Canada Agreement to result in higher than expected tariff revenue for the United States on motor vehicles and parts due to stricter rules of origin and labor value content requirements. Included in the revenue calculation is an estimated $3 billion in tariffs to be paid by automakers over the […]
Domestic steelmakers finished 2019 strong and managed to keep the average mill capability utilization above the desired 80 percent rate for the year. Mill utilization increased to 81.1 percent in the week ending Dec. 28, the last full week of the year. Raw steel production totaled 1,876,000 net tons, up 0.5 percent from the previous […]
Mill capability utilization inched back over the 80 percent mark in the week ending Dec. 21. Production totaled 1,866,000 net tons at 80.1 percent capacity, up 1.2 percent from the previous week and up 0.3 percent compared with the same week last year, reported the American Iron and Steel Institute. Adjusted year-to-date production through Dec. 21 […]
Based on Steel Market Update’s analysis of 10 indicators, there is a faint glow in the manufacturing environment. This report summarizes 10 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market Update publications, and therefore […]
Mill capacity utilization increased by a percentage point in the week ending Dec. 14 to 79.7 percent. Production totaled 1,844,000 net tons, up 1.3 percent from the previous week but down 0.9 percent compared with the same week last year, reported the American Iron and Steel Institute. Adjusted year-to-date production through Dec. 14 totaled 92,584,000 net […]
U.S. raw steel production in October rose 3.5 percent to 7,991,393 net tons, reported the American Iron and Steel Institute in Washington. October production is slightly below the 2019 average of 8,088,957 tons and down 4.1 percent compared to the same month last year. Broken down by production method, 5,657,855 tons (70.8 percent) were produced […]
In October, demand for sheet products declined by more than the seasonal norm. Demand for long products is softening as construction expenditures decline. This analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce (DoC). The […]
October apparent steel supply remained steady at 8.7 million net tons, according to data from the American Iron and Steel Institute and U.S. Department of Commerce. October supply is the second lowest level seen in the last 23 months, with the lowest occuring the month prior. Apparent steel supply, a proxy for demand, is determined […]
Raw steel output by U.S. mills declined again in the week ending Dec. 7. Production totaled 1,821,000 net tons at a capability utilization rate of 78.7 percent, down 0.8 percent from the previous week and down 2.1 percent compared with the same week last year when utilization was at 79.4 percent, reported the American Iron and […]
The United States, Mexico and Canada have finally reached consensus on a new North American trade agreement. In an announcement on Tuesday, the office of U.S. Trade Representative Robert Lighthizer said the USMCA “will support mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth in North America.” Lighthizer and Canadian Deputy […]
Commerce Department data indicates a slowdown in steel product shipments and new orders in 2019. Steel industry trade association data from the American Iron and Steel Institute (AISI) and the Metals Service Center Institute (MSCI) are most widely used to assess the state of the industry. In addition, the Census Bureau provides monthly data on […]
Raw steel output by U.S. mills dipped again in the week ending Nov. 30, inching below the 80 percent mark for the first time since the week ending Oct. 19. Production totaled 1,835,000 net tons at a capability utilization rate of 79.3 percent, down 1.4 percent from the previous week and down 3.6 percent compared […]
Raw steel output by U.S. mills dipped again in the week ending Nov. 23, but stayed above the 80 percent mark. Production totaled 1,861,000 net tons at a capability utilization rate of 80.4 percent, down 0.8 percent from the previous week and down 2.2 percent compared with the same week last year, reported the American Iron […]
U.S. raw steel production in September fell 5.3 percent to 7,720,237 net tons, reports the American Iron and Steel Institute in Washington. September production is below the 2019 average of 8,099,797 tons and down 3.5 percent compared to the same month last year. Broken down by production method, 5,349,165 tons (69.3 percent) were produced by […]
Steel Market Update is please to share this Premium content with Executive-level subscribers. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Manufacturing output shows contraction in nine of the 10 indicators analyzed by Steel Market Update, which helps to explain the current weakness in steel demand in some sectors. This report […]
The U.S. ambassador to the World Trade Organization singled out China on Tuesday for its withdrawal from the Global Forum on Steel Excess Capacity. In comments delivered at the WTO Committee on Subsidies and Countervailing Measures, Ambassador Dennis Shea said it was “regrettable” that China chose to terminate its membership in the Global Forum. “Unfortunately, […]
Raw steel output by U.S. mills increased slightly in the week ending Nov. 16, taking the average mill utilization up to 81.1 percent from 80.5 percent the week before. Production totaled 1,876,000 net tons last week, up 0.8 percent from the previous week but down 1.4 percent compared with the same week last year, reported the […]
Today I was on a conference call with steel buyers associated with HARDI, the trade organization whose members sell galvanized steel and other products to mechanical contractors. We have an article about the call in this evening’s issue, but there was one fact that was brought up by multiple executives: the price increases “have not […]
Demand for steel sheet products declined by more than the seasonal norm in September. This analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import/export data from the U.S. Department of Commerce (DoC). The analysis summarizes total steel supply by product from 2003 […]
Raw steel output by U.S. mills declined slightly in the week ending Nov. 9, taking the average mill utilization down to 80.5 percent from 81.7 percent the week before. Production totaled 1,862,000 net tons last week, down 1.4 percent from the previous week and down 2.2 percent compared with the same week last year, reported the […]
September apparent steel supply slipped to 8.7 million net tons, the lowest level seen since December 2017, according to data from the American Iron and Steel Institute and U.S. Department of Commerce. Apparent steel supply, a proxy for demand, is determined by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. […]
Raw steel output by U.S. mills increased by nearly a full percentage point in the week ending Nov. 2, the third increase in as many weeks, taking the average mill utilization up to 81.7 percent of capacity. Production totaled 1,888,000 net tons, up 1.2 percent from the previous week and up 0.1 percent compared with […]
Raw steel output by U.S. mills saw another small increase in the week ending Oct. 26 taking the average mill utilization rate back up over 80 percent of capacity. Production totaled 1,866,000 net tons at a utilization rate of 80.7 percent, up 1.4 percent from the previous week but down 0.6 percent compared with the […]
Steel imports are down significantly this year, the result of trade actions and economic forces, but the import market share is relatively unchanged. Through the first nine months of 2019, the U.S. imported at total of 22.6 million tons of steel, a 13.7 percent decline from the same period in 2018, reports the American Iron […]