According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of September 2016 was 8,106,754 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. September apparent […]
Licensed data for October was reported by the Steel Import Monitoring System of the US Commerce Department on November 8th. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. All volumes in this analysis are reported in short tons. Total rolled […]
The World Trade Organization said 85 trade-restrictive measures were implemented by G20 economies from mid-May to October 2016, approximately 17 measures per month. The number is a slight decline from 21 per month reported in the previous reporting period but continues to be high compared to the roll-back of existing trade-restrictive measures. During the reporting […]
Good evening from Memphis, Tennessee and Ocseola, Arkansas home of Big River Steel. Earlier today our Steel 101: Introduction to Steel Making & Market Fundamentals workshop held our class on the steel making and rolling process. The morning session was then followed by a trip to Osceola and a tour of the brand new (so […]
We believe that misinformation (or lack of) about regional foreign steel import volumes is often used to influence purchase decisions. Our intent with this analysis of tonnage by district of entry is to describe in detail what is going on in a company’s immediate neighborhood and, thus, provide a negotiating advantage for our premium subscribers. […]
The annualized GDP growth rate in the first estimate of the third quarter of 2016 was 2.91 percent which was the best result since the Q3 of 2014. Economy.com had this to say: “Prospects remain bright. Consumers are doing their part and spending growth will remain strong as labor markets tighten and wage increases accelerate. […]
The following is an analysis of steel export data by the American Institute for International Steel: Falls Church, VA. November 9, 2016. Steel exports dipped 2.1 percent from August to September, remaining at roughly the same level as a year ago. The 795,318 net tons of exports were 2 percent below the September 2015 total. […]
ArcelorMittal posted net income of $680 million for third quarter 2016. Steel shipments totaled 20.3 million tonnes, down from 22.1 million tonnes in second quarter and 21.1 million tonnes in Q3 2015. Crude steel production in the NAFTA segment decreased 1.8 percent sequentially to 5.6 million tonnes in third quarter. The NAFTA segment includes the […]
Imports of foreign steel came in at 2,744,669 net tons for the month of September based on the U.S. Department of Commerce Preliminary Census Data while October is trending at almost the exact same number with 2,774,493 net tons of foreign steel import license requests as of the 1st day of November. When comparing the […]
Accelerating production and new orders raised the JP Morgan Global Manufacturing PMI to 52.0 in October, its highest level in two years. Manufacturing conditions improved in 22 of the 31 nations surveyed. Those nations that contracted were primarily in Asia (South Korea, Indonesia, Malaysia, Thailand, Singapore and Myanmar), said JP Morgan and IHS Markit, along […]
On Thursday (October 27, 2016) Cliffs Natural Resources conducted their 3rd Quarter 2016 earnings conference call with analysts. During the call Cliffs CEO Lourenco Goncalves made statements regarding steel service centers which he reported as importing “illegal steel,” thus hurting the domestic steel industry. He also pointed out that service center inventories were “dangerously low” […]
Economic activity in the manufacturing sector expanded at a faster rate in October, according to the latest Manufacturing ISM Report on Business. The PMI index, which covers manufacturing activity for the entire United States, registered 51.9, a 0.4 increase from September. A reading above 50 indicates expansion of the manufacturing economy and below 50 indicates […]
AISI, Washington, D.C. (Oct. 27, 2016) – The American Iron and Steel Institute (AISI) today submitted comments to the Trade Policy Staff Committee (TPSC) on USTR’s 2017 National Trade Estimate Report (NTE) on Foreign Trade Barriers. This submission marks the fifth year in a row that AISI has documented the foreign trade barriers that distort […]
All eyes this week will be on the scrap dealers and their steel mill customers as they haggle over where ferrous scrap prices will trade for the month of November. The opinion of many in the steel industry is that as scrap prices increase, it will both support the flat rolled steel price announcements already […]
Steel Market Update scrap sources are advising us to expect ferrous scrap prices have bottomed and will increase once the November negotiations get underway next week with the domestic steel mills. We are hearing scrap prices should increase by a minimum of $10 per gross ton and some items could go up by as much […]
Chinese steel trade data was recently released for the month of September 2016, providing updated data on iron ore imports, scrap imports, and flat rolled imports and exports. Chinese imports of iron ore in September were 92,990,000 metric tons, an increase of 6.0 percent from the previous month and an increase of 8.0 percent from […]
One of our key Asian steel and commodity trading sources has provided SMU with details about the Chinese steel markets as well as what is happening in Asia,including comments about the circumvention suit which involves Vietnam: Export offers from China have basically risen by USD20/mt in the past two weeks, and it has become a […]
With the end of October at hand, it is time for SMU to take another look at shipping conditions around the U.S. Seaborne MID-SHIP is seeing improvement in freight rates and fuel prices and an increase in period chartering activity for seaborne cargo. A surge in coal pricing in the past few weeks has resulted […]
The conversation has begun regarding when flat rolled steel prices will end their slide and reverse course. Flat rolled steel prices have been in a steep decline since mid-June 2016 when benchmark hot rolled prices peaked at $635 per ton ($31.75/cwt, SMU index average) FOB domestic mill. Since then steel prices have retreated $145 per […]
Trading company sources have been telling SMU to expect foreign flat rolled steel prices, especially light gauge galvanized prices, to rise in the coming weeks. Traders are advising SMU that slab and hot band substrate prices have been rising around the world thus increasing the cost for many conversion mills to produce cold rolled and […]
This report summarizes total steel supply from 2003 through August 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
The following report on steel exports is from the American Institute for International Steel (AIIS). We thought our readers would enjoy looking at exports from a different perspective: Falls Church, VA. October 11, 2016. Steel exports jumped 10 percent from July to August, nearly returning to their level of a year earlier. The 812,011 net […]
Steel Market Update ferrous scrap sources advised us over the weekend that scrap negotiations have wrapped up between the dealers and the domestic mills and that steel mills, once again, have walked away the winners as scrap prices dropped across the country. However, the weakest areas are those furthest away from the east coast where […]
China’s Commerce Ministry criticized the European Union for antidumping duties imposed Friday on imports of hot rolled steel and plate. The Ministry called the investigation methods unfair. A spokesperson for the Ministry said Chinese steel imports cannot be affecting EUs steel prices because they only account for 5 percent of the European market. “Reckless trade […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of August 2016 was 9,115,482 net tons and the percentage of imports was 26.2 percent of the market. Apparent steel supply is calculated by adding domestic steel shipments and finished […]
August steel exports totaled 812,010 net tons (736,644 metric tons), up 10.0 percent over July but down 1.7 percent from August 2015. This is the highest export level seen since August 2015, while last month we saw exports at a 7 month low (738,096 tons). Total August figures are above the thee month moving average […]
Licensed data for September was reported by the Steel Import Monitoring System of the US Commerce Department on October 4th. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. All volumes in this analysis are reported in short tons. Total rolled […]
The U.S. Department of Commerce (DOC) reported final census data regarding foreign steel imports for the month of August and revised new license data regarding the month of September. The DOC reported August imports of 3,055,600 net tons and September license data has the month below 3.0 million tons to approximately 2.8 million tons. The […]
China is not likely to meet its steel capacity reduction target of 45 million tons this year. According to data from the World Steel Association, steel output in China has fallen only 0.1 percent from January to August with production at 536 million tonnes. Steel production rose 3 percent year-over-year in August and increased 2.6 […]
Global manufacturing is being hampered by weak trade said IHS Markit. The September JP Morgan Global Manufacturing PMI, compiled by Markit, rose slightly to 51.0 from 50.8 in August but failed to show any significant growth in the global manufacturing industry. The global report of 28 countries showed only eight reporting deteriorating manufacturing conditions in […]