There have been a number of articles written recently regarding the move by the Chinese government to remove some of the tax incentives in the form of rebates to the Chinese steel producers who export certain steel products. Any move to remove export tax rebates on steel is seen as a positive by the rest […]
We purposely did not begin this article on where our sources are seeing ferrous scrap prices with an attention grabbing headline as we think readers would be confused. The confusion comes from the pressure the domestic steel mills are expected to put on obsolete grades, like shredded scrap and HMS (heavy melt scrap). Those of […]
Based on Steel Market Update (SMU) analysis of the recently released MSCI service center inventory and shipment data, total service center carbon steel shipments decreased by 41,100 tons in May to 3.050 million tons. The number of shipping days was he same at 21. On a tons per day (t/d) basis shipments decreased from 147,200 […]
SMU received a couple of inquiries about sheet shipments and one of our Premium customers had a specific question about the data presented in one of our Premium supplemental issues last week. We thought that we should share the data and then present at the end the question and our response for all of our […]
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 April 2016 was 8,634,917 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. April apparent […]
Licensed data for May was reported by the Steel Import Monitoring System of the US Commerce Department on June 3rd. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. Total rolled product licensed imports in the single month of May were […]
This report summarizes total steel supply from 2003 through April 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 […]
Recent reports on India’s steel sector are providing mixed signals on the industry’s health. The nation’s steel industry has suffered two years of low prices and subdued demand but rising GDP and the onset of monsoons after a severe drought may stimulate new orders. “Indian steel demand rose 4.5 per cent in the financial year […]
This Key Markets Indicator report is something we produce for our Premium level clients. However, we thought that our Executive level readers would appreciate knowing why we continue to be bullish on the direction of the market based on our analysis of the Key Market Indicators. An explanation of the Key Indicators concept is given […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 34. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
Our scrap sources are a little less optimistic today about June scrap price negotiations than they were a couple of short weeks ago. Those pesky Chinese are once again mucking up the waters with their billet offers to Turkey (billet can be used in place of scrap and cost less to convert to long products […]
Steel Market Update received the following question from one of our readers yesterday (Wednesday, May 18th) regarding the weekly capacity utilization rates that are produced by the American Iron & Steel Institute (AISI) and are published in our Tuesday evening newsletter. “This morning I was reading the latest SMU report and I was left wondering […]
The article below was published to our Premium members yesterday afternoon, but we felt it would be nice to share with our Executive members too. If you would like more information about a Premium membership or would like to upgrade, contact us at info@SteelMarketUpdate.com. Based on Steel Market Update (SMU) analysis of the recently released […]
Based on Steel Market Update (SMU) analysis of the recently released MSCI service center inventory and shipment data, total service center carbon steel shipments decreased by 84,700 tons in April to 3.091 million tons. This decrease was driven by the number of shipping days, down by 2 to 21. On a t/d basis shipments increased […]
This report summarizes total steel supply from 2003 through March 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 […]
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 March 2016 was 8,716,178 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports and subtracting total US steel exports. March apparent […]
ArcelorMittal narrowed its losses in first quarter 2015 to $416 million from $728 million a year ago. Total steel shipments for the company were 21.5 million tonnes. “Clearly, the market conditions have improved since we reported full year results in early February. Rising steel prices in China have supported prices globally and this has been […]
Licensed data for April was reported by the Steel Import Monitoring System of the US Commerce Department on May 3rd. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. Total rolled product licensed imports in the single month of April were […]
For the week ending April 23, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,684,000 net tons of raw steel, a 0.5 percent decrease over the previous week but a 2.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 72.0 percent, down […]
Steel Dynamics announced a strong quarter with net income of $63 million on net sales of $1.7 billion for first quarter 2016. Steel operating income increased 104 percent to $136 million from fourth quarter due to a 17 percent improvement in shipments which totaled 2.12 million tons. Average steel selling price dropped $40 from Q4 […]
There is still no light at the end of this tunnel except for coated products which have had three months of shipment growth on a tons / day, (t / d) basis. Total service center carbon steel shipments increased by 142,100 tons in March to 3.176 million tons. This increase was driven by the number […]
I will be doing an article in Sunday evening’s newsletter about the AISI capacity utilization numbers. The AISI produces their “estimate” of steel production and the percentage of capacity utilization based on 50 percent (or fewer) of the mills reporting production data. I have considered not publishing the data at all because, in my opinion, […]
The Association of Steel Distributors (ASD), which in March celebrated its 73rd anniversary, swore in Andrew (Andy) Gross, President & CEO of Alliance Steel as the new President of the ASD during its spring meeting held in Naples, Florida earlier this month. The new ASD president told SMU that he wants to expand the exposure […]
Licensed data for March was reported by the Steel Import Monitoring System of the US Commerce Department on April 5th. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. Total rolled product licensed imports in the single month of March were […]
This report summarizes total steel supply from 2003 through February 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 and […]
According to the latest data released from the US Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of February 2016 was 8,269,164 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports and subtracting total US steel exports. February apparent […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 34. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
Tata Steel announced yesterday that it will consider selling off all of its British operations. In a review of its UK operations, the Tata Steel Board concluded that due to deteriorating financial performance in the past twelve months the company will “explore all options for portfolio restructuring including the potential divestment of Tata Steel UK, […]
As we head into the Good Friday and Easter weekend holiday we want to wish everyone an enjoyable time with family and friends. Steel Market Update will not publish a newsletter on Sunday so our next official publication will be on Tuesday evening of next week. Even so, that should not prevent you for communicating […]
Based on Steel Market Update (SMU) analysis of the recently released MSCI service center inventory and shipment data, total service center carbon steel shipments increased by 125,500 tons in February to 3.034 million tons. Shipping days at 21, were up by one from January. On a tons per day basis (t/d) shipments decreased from 145,400 […]