From the Associated General Contractors of America (AGC): Total construction spending remained in a holding pattern in March as strong gains in apartment construction and modest growth in home building and private nonresidential activity offset falling public outlays, according to an analysis of new Census Bureau data by the Associated General Contractors of America (AGC). […]
AM Castle reported a consolidated net loss of $16 million for first quarter 2014, compared to net loss of 10.6 million in first quarter 2013. Metals segment net sales were $219.1 million, 15.2 percent lower than Q1 2013 due to decline in average pricing per ton and volume. Net volume improved by 13.4 percent from […]
According to Baker Hughes data from April 25th, 2014, the U.S rig count for this week is 1,861 rigs exploring for or developing oil or natural gas. This count is an increase of 30 rigs when compared to last week, with oil rigs up 24 to 1,534 rigs, gas rigs up 7 to 323 rigs, […]
The U.S. Department of Commerce released preliminary steel import census data for March and reported total steel imports at 3,218,914 net tons (NT). Compared to February, March imports are down by 2.0 percent or 66,960 NT. Compared to the same month one year ago, total March 2014 imports are up 25.2 percent or 648,510 NT. […]
Reliance Steel & Aluminum, the largest metals service center in the United States, announced earnings earlier today. The company reported net income of $87.2 on sales totaling $2.09 billion. Sales included the recent acquisitions of Metals USA and Haskins Steel. The company reported an 8.4 percent improvement in same store sales over the same quarter […]
Caterpillar reported that, excluding restructuring costs, earnings were flat in first quarter compared to first quarter 2013. Sales and revenues totaled $13.241 billion. North American sales for Machinery, Energy & Transportation were up 16 percent year over year to $5,219 million in the first quarter of 2014. Construction industry sales were up 36 percent to […]
Foreign steel imports, for the month of April 2014 are projected by Steel Market Update to exceed 3.5 million net tons. Based on preliminary license data collected by the U.S. Department of Commerce through April 22, 2014 imports could reach as high as 3.7 million net tons. However, as our regular readers already know, license […]
Chinese statistical data is always questioned for a number of reasons, not least is, “Is the data politically motivated.” Other suspicions arise because China gets their data out faster than any other major economy and the data is never revised. However at SMU we believe that in spite of these concerns what we have is […]
This month (April 2014) the EIA (U.S. Energy Information Administration) released its report on petroleum reserves for 2012. Proved reserves are estimated volumes of hydrocarbon resources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. Reserves estimates change from year to year as new discoveries […]
John Correnti is moving forward with his plans for Big River Steel with groundbreaking anticipated in June. The air permit for the mill had been challenged by neighboring steel mill Nucor, but was upheld by a Mississippi County judge in March. The Arkansas Pollution Control and Ecology Commission will vote on acceptance of the permit […]
According to Baker Hughes data from April 17th, 2014, the U.S rig count for this week is 1,831 rigs exploring for or developing oil or natural gas. This count is unchanged when compared to last week, with oil rigs down 7 to 1,510 rigs, gas rigs up 6 to 316 rigs, and miscellaneous rigs up […]
General Electric reported today that the beginning of 2014 is off to a good start. Profits from its industrial segment rose 12 percent to $3.3 billion in the first quarter of 2014. Double digit growth was seen in five of its nine growth regions. Infrastructure orders were valued at $23.7 billion, flat with the same […]
The U.S. Department of Commerce released license data through Tuesday, April 15th for imported steel scheduled to arrive into the United States during the month of April. Based on this early license data (knowing it can be misleading) we are projecting total steel imports will exceed the 3.5 million net tons forecast for March. Our […]
The following is a release from the The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on U.S. Heating and Cooling Equipment Shipment Data for the month of February 2014: Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for February 2014 increased 5.8 percent, to 366,057 units, up from 345,853 units shipped in February […]
According to Baker Hughes data from April 11th, 2014, the U.S rig count for this week is 1,831 rigs exploring for or developing oil or natural gas. This count is an increase of 13 rigs when compared to last week, with oil rigs up 19 to 1,517 rigs, gas rigs down 6 to 310 rigs, […]
Each month the Commerce Department issues its construction put in place (CPIP) data on the first working day covering activity two months earlier. February data was released on April 1st. Total Construction: February expenditures were $63.369 billion which breaks down to $46.647 B of private work, $14.945 B state and locally financed and $1.777 B […]
Steel producers and distributors can expect an influx of orders for steel plate for rail tank cars in the next several years. After several serious tanker accidents involving crude oil transport, the Association of American Railroads Tank Car Committee (AARTCC) and Railway Supply Institute Committee on Tank Cars (RSICTC) have each submitted higher safety standard […]
According to Baker Hughes data from April 4th, 2014, the U.S rig count for this week is 1,818 rigs exploring for or developing oil or natural gas. This count is an increase of 9 rigs when compared to last week, with oil rigs up 11 to 1,498 rigs, gas rigs down 2 to 316 rigs, […]
Imports of foreign steel increased during the month of February compared to the prior month. Steel Market Update carefully monitors total steel imports, slab imports, hot rolled, cold rolled, galvanized and Galvalume imports as well as plate (coiled and sheet) and oil country tubular goods (OCTG). The U.S. Government recently released preliminary census data for […]
Imports of foreign steel increased during the month of February compared to the prior month. Steel Market Update carefully monitors total steel imports, slab imports, hot rolled, cold rolled, galvanized and Galvalume imports as well as plate (coiled and sheet) and oil country tubular goods (OCTG). The U.S. Government recently released preliminary census data for […]
According to Baker Hughes data from March 28th, 2014, the U.S rig count for this week is 1,809 rigs exploring for or developing oil or natural gas. This count is an increase of 6 rigs when compared to last week, with oil rigs up 14 to 1,487 rigs, gas rigs down 8 to 318 rigs, […]
We are beginning to see a new push away from a fragmented steel mill supply base as closures of capacity coupled with the recent acquisition of ThyssenKrupp Steel USA by ArcelorMittal/Nippon Steel Sumitomo Metals Corporation (AM/NS Calvert) are reducing the number of players and the tons in the game. Over the past two years we […]
Steel industry leaders met with members of the Congressional Steel Caucus this morning (March 25, 2014) to discuss the need for policy reform on trade, energy, environment and infrastructure in order to keep US industries competitive. SMU has reprinted the short version of the American Iron and Steel Institute press release below. The full testimonies […]
Big River Steel is cleared to begin construction. Mississippi County Judge Charles Moulton ruled in favor of the John Correnti led Big River Steel in an air quality permit lawsuit filed by rival steel-maker Nucor Corp. An air permit was provisionally granted on Sept 18, 2013 but subsequently challenged by Nucor on the basis that […]
According to Baker Hughes data from March 21st, 2014, the U.S rig count for this week is 1,803 rigs exploring for or developing oil or natural gas. This count is a decrease of 6 rigs when compared to last week, with oil rigs up 12 to 1,473 rigs, gas rigs down 18 to 326 rigs, […]
As our regular readers know, Steel Market Update projects imports of foreign flat rolled sheet, plate and oil country tubular goods (OCTG) as well as semi-finished (mostly slabs) steels for the month in progress. The projection is based on U.S. Department of Commerce license data which can be misleading and our projection should also be […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes for thousands of goods and materials. The latest release on Friday reported February results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials. See below for the official description […]
According to Baker Hughes data from March 14th, 2014, the U.S rig count for this week is 1,809 rigs exploring for or developing oil or natural gas. This count is an increase of 17 rigs when compared to last week, with oil rigs up 18 to 1,461 rigs, gas rigs down 1 to 344 rigs, […]
The The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) released January shipment data for water heaters, furnaces and air conditioners. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for January 2014 increased 2.2 percent, to 370,850 units, up from 363,004 units shipped in January 2013. Residential electric storage water heater shipments increased 7.3 […]
Steel Market Update has been aware for awhile that at least one, and probably more than one, domestic steel mill has been trying to convince the rest of the industry to support dumping suits on coated products. This would most likely include galvanized and Galvalume steels. The countries being mentioned include China, India, Taiwan and […]