Service center shipments of all steel products totaled 3,420,300 tons for the month of May, up 7.0 percent over year-ago levels, reports the Metals Service Center Institute. MSCI released May shipping, inventories and month’s-on-hand (MOH) data for the United States on Thursday, June 15. The daily shipment rate for May was 155,900 tons, which is […]
Steel shipments by Canadian service centers in May totaled 415,000 net tons, up 14.5 percent from the previous month and up 6.8 percent from May 2016, reports the Metals Service Center Institute. On a daily rate basis, total shipments were 18,900 tons per day in May (a 22-day month), down from 19,100 tons per day […]
Six leading steel groups in Canada, Mexico and the United States are today urging their respective governments to ensure that negotiations on the North American Free Trade Agreement (NAFTA) include key tenets that would result in growing consumption of steel in North America and increasing intra-NAFTA trade and market share for NAFTA producers. In a […]
The Chinese, Russians, Turks, Vietnamese, Koreans and to a lesser extent the Taiwanese ears were burning Wednesday after the “bad-mouthing” they got at the Section 232 hearing on steel. Of the 37 scheduled speakers 9 domestic companies/organizations along with four foreign entities (Russia, China, Ukraine and Eurofer) spoke on behalf of allowing foreign steel without […]
The U.S. Department of Commerce advised Steel Market Update, as a member of the media, who would be speaking at tomorrow’s (Wednesday, May 24, 2017) Section 232 hearing on steel. The hearing is part of the Commerce Department’s investigation about the need for steel for national security. Here is what we received from the US […]
When we saw that shipments had dropped by over 500,000 tons in April our first thought was “Yikes!” but as we looked deeper we saw that shipping days in March were 23 days (their highest in the cycle) and in April fell to 19 days. Daily shipments in April increased by 6.6 percent from March. […]
The Metal Service Center Institute (MSCI) released their April 2017 shipment and inventories data for the United States and Canada. The following is a recap of the U.S. data. Total steel shipments (all products) were reported to be 3,110,500 tons which was 4.2 percent lower than year ago levels (19 days vs. 21 day month […]
Total Canadian steel shipments for all products in April were 362,400 net tons, down 14.0 percent from March and down 2.8 percent from April 2017. On a daily rate, total shipments were 19,100 tons per day in April (19 day month), up from 18,300 tons per day in March (23 day month), and up compared […]
Olympic Steel reported a very positive first quarter. Higher shipment volume and pricing resulted in a 30 percent increase in net sales to $334.9 million resulting in net income of $7.7 million. Sales and margins increased in all three segments of Olympic Steel due to increased demand and higher pricing. Carbon flat products turned in […]
Is the newly initiated Section 232 the Black Swan event that will remove steel supply from the market and tip the balance of supply/demand in favor of the domestic steel mills, thus pushing prices to levels not seen since 2008? There should not be any doubt that the make-up of the Trump Administration, coupled with […]
Steel Market Update has been working on trying to get a better understanding of the pipe and tube business. We had a conversation with Barry Zekelman, Chairman and CEO of Zekelman Industries, the largest privately held pipe and tube manufacturer in the country. Our initial conversation was about foreign steel imports and how they were […]
Miami – April 20, 2017 – Optima Specialty Steel, Inc. (together with its subsidiaries, collectively the “Company” or “OSS”) today announced that it has entered into a Plan Support Agreement (the “Agreement”) with Optima Acquisitions, LLC (“OA”), the sole shareholder of OSS. The Agreement contemplates that the Company will emerge from Chapter 11 by the […]
HAMILTON, ON, April 19, 2017 /CNW/ – Stelco, the name under which U. S. Steel Canada Inc. carries on business (“Stelco” or the “Company”), announces that it and Bedrock Industries Group LLC (Bedrock) have reached an agreement in principle (the “Agreement”) with the Stelco salaried employees and retirees and certain others represented by court-appointed representatives […]
Steel Market Update (SMU) is providing two articles on the MSCI (Metal Service Center Institute) data for March 2017 for United States steel distributors in tonight’s newsletter. The first article is our normal analysis and the second article is a deeper dive analysis normally provided to our Premium level readers. Publisher, John Packard, also provides […]
Total Canadian steel shipments for all products in March were 421,300 net tons, an increase of 15.2 percent from the month before and an increase of 7.4 percent from March 2017. Total steel inventories at the end of the month stood at 1,165,000 tons, down 0.5 percent from last month and down 2.0 percent from […]
February service center shipments were almost exactly normal on a month/month basis though there were some bright spots. Daily shipments decreased by 0.6 percent from January. Since 2009 on average, February has decreased by 0.8 percent. Carbon steel shipments were 148,900 tons per day. The number of shipping days decreased from 21 to 20. Intake […]
Steel service centers in the United States have seen inventories reach a bottom after years of decline and appear to be slowly bouncing back (see graphic below). This appears to be true for all steel products combined as well as flat rolled, plate, and pipe & tube segments. During the month of February 2017, U.S. […]
Total Canadian steel shipments for all products in February were 365,700 net tons, a decrease of 11.2 percent from the month before and a decrease of 7.8 percent from February 2017. Do keep in mind that total January shipments were at an 18 month high. Total steel inventories at the end of the month stood […]
Turkey has filed a complaint with the World Trade Organization against U.S. countervailing duties placed on imports of pipe and tube products. Turkey requested the WTO initiate dispute consultation with the United States alleging the U.S. determination and imposition of duties was inconsistent with the WTO’s Agreement on Subsidies and Countevailing Measures (SCM Agreement) and […]
January service center shipments were exceptional. There are times when we wish we weren’t so hung up on three month moving averages and this is one of them. Daily shipments increased by 29.9 percent from December. Since 2009 on average, January has increased 8.1 percent hence our enthusiasm for the latest data. Carbon steel shipments […]
Total Canadian steel shipments for all products in January were 411,800 net tons, an increase of 42.0 percent from the month before and an increase of 5.7 percent from January 2016. Total steel inventories at the end of the month stood at 1,178,200 tons, up 0.6 percent from last month but down 5.8 percent from […]
Nucor Corporation plans to help the new administration bring manufacturing back to America. It is off to a good start by posting solid earnings results for fourth quarter 2016. Nucor announced consolidated net earnings of $159.6 million for fourth quarter 2016 compared to $305.4 million in third quarter and a loss of $187.5 million a […]
The prices of oil and natural gas drive the consumption of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube as well as equipment used to drill and pump oil and natural gas. Figure 1 shows historical […]
The Metal Service Center Institute (MSCI) released shipment and inventories data for the month of December as well as the full calendar year 2016. Total steel products, carbon flat rolled, steel plate and pipe and tube saw shipments drop and inventories rise during the month of December compared to the prior year. The U.S. steel […]
Total Canadian steel shipments for all products in December were 289,900 net tons, a decrease of 27.2 percent from the month before but an increase of 6.2 percent from December 2015. Total steel inventories at the end of the month stood at 1,170,600 tons, up 7.6 percent from last month and up 0.4 percent from […]
Ferrous scrap price negotiations for January were slow to develop but by late Thursday and into Friday prices firmed and deals between the domestic steel mills and the scrap dealers were getting done. The two largest scrap buyers, David J Joseph (Nucor) and Omnisource (Steel Dynamics), entered the market late during the week at $30 […]
The prices of oil and natural gas drive the consumption of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube as well as equipment used to drill and pump oil and natural gas. On December 12th Gaurav […]
Canadian shipments for all steel products in the month of November were 398,000 net tons, an increase of 11.6 percent from the month before and an increase of 11.3 percent from November 2015. Inventories at the end of the month stood at 1,087,700 tons, up 0.7 percent from last month but down 5.7 percent from […]
CHARLOTTE, N.C., Dec. 15, 2016 /PRNewswire/ — Nucor Corporation (NYSE: NUE) announced today that it has agreed to acquire Republic Conduit, a leading manufacturer of steel electrical conduit in North America, from Luxembourg-based Tenaris S.A. for $335 million, or approximately 6x the average of its 2015 and projected 2016 EBITDA. Republic Conduit’s annual shipment volume […]
Earlier this week the Metals Service Center Institute (MSCI) released end of October shipment and inventories data for the U.S. steel service centers. Total steel shipments (all products) were 3,073,400 net tons which was 8.6 percent lower than October 2015 levels. The distributors shipped 146,400 tons per day which was an improvement over the 145,000 […]