Seaborne shipping market rates continue to plummet with the Baltic Dry Index reaching another new low this past week. The Index stood at 290 on Wednesday, Feb. 10; a year ago on that date the BDI stood at 556. To get a better perspective on how bad things are, the highest level ever reached was […]
EVRAZ North America announced it will idle indefinitely the Portland Spiral pipe mill in Oregon, effective April 9, 2016. The idling will result in the termination of 130 employees. The closure was “a result of economic challenges from three primary factors: delays in regulatory approvals for pipelines in the U.S. and Canada; the influx of […]
Mill Steel Co., one of the nation’s largest distributors of flat-rolled carbon steel, has acquired certain assets of S&S Steel Services, Inc. (S&S), an Indianapolis/Anderson based supplier of carbon flat-rolled steel service. Terms of the deal, which closed on January 11, 2016, were not disclosed. S&S Steel services manufacturing customers in the Midwest, Mid-South and […]
On Tuesday, January 19, the Baltic Dry Index hit its lowest point ever, dropping to 363 points. The BDI tracks shipping rates for dry bulk cargos like iron ore, coal and grain and is considered a barometer for global steel trade. To put things in perspective, six months ago, on August 8, 2015, the Index […]
Media reports indicate that ArcelorMittal Steelton, a producer of rail in Pennsylvania, may be up for sale. Local government officials and the president of USW Local 1688 say they have been informed by the company that the facility is for sale. A spokesperson for ArcelorMittal said the company “does not comment on rumors or market […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes, for thousands of goods and materials. For an explanation of this program see the end of this piece. The latest release last week reported results through November. We run this analysis every three or four months to give readers […]
Licensed data for November was reported by the Steel Import Monitoring System of the US Commerce Department on December 4th. At SMU we perform a detailed analysis of this data, an explanation of our methodology is given at the end of this write up. Total rolled product licensed imports in the single month of November […]
License data for October was updated on November 3rd through the Steel Import Monitoring System of the US Commerce Department. At SMU we perform a detailed analysis of this data, an explanation of our methodology is given at the end of this write up. Total rolled product licensed imports in the single month of October were […]
Seaborne freight is still experiencing low rates due to limited cargo volume in a general global economic slowdown, according to the latest MID-SHIP Report. Dry bulk market rates have been at historic lows this year as operators struggle with low demand and vessel oversupply. The Baltic Dry Index stood at 721 on Oct. 30, falling […]
Shipping in the various transportation sectors is relatively subdued in October. Low freight rates for seaborne cargo continues to be a problem for carriers, according to the Oct. 15 MID-SHIP Report. Low volumes, weak worldwide economies, and a strong dollar are affecting rates for both bulk carriers and container lines. The Baltic Dry Index was […]
Licensed data for September was updated on October 6th through the Steel Import Monitoring System of the US Commerce Department. The SMU publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is available to our […]
Freight rates for seaborne cargo continue to remain low said MID-SHIP in their Sept. 16 report. Trade has fallen due to weak global economies and the downturn in China, triggering lower commodity prices and freight rates. Oversupply of vessels eased over the summer as many were scrapped and new orders decreased. The respite was short […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes, for thousands of goods and materials. For an explanation of this program see the end of this piece. The latest release last Friday reported results through August. We run this analysis every three or four months to give readers […]
This data is normally reserved for our Premium members, but we wanted to give our Executive readers a view of what a Premium subscription includes. This is one of many additional data points available to our Premium level members. Licensed data for August was updated on September 4th through the Steel Import Monitoring System of […]
Big River Steel announced a series of leadership appointments today following the unexpected death earlier this week of CEO John Correnti. Dan Murray, a member of the board, was appointed as chairman of the board of directors. Jim Bell, construction manager at Big River Steel, was elected to the board of directors. Dave Stickler, […]
Licensed data for July was updated on August 4th through the Steel Import Monitoring System of the US Commerce Department. Steel Market Update publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is available to […]
U.S. West Coast and Gulf ports seem to be in pretty good operating condition right now. The Port of Houston received over 6 million tons of steel imports in 2014, making it a record year for the port. In a “normal” year Houston can expect to see 3.5 to 4 million tons annually. Our Houston […]
Net imports equals imports minus exports. We regard this as an important look at the overall trade picture and its effect on demand at the mill level. Figure 1 shows that net sheet product imports on a three month moving average (3MMA) basis in May, continue to be more than double that which existed before […]
Seaborne Freight The dry bulk market may have bottomed out in May and has been steadily creeping higher during June. The Baltic Dry Index closed at 823 on Friday, June 26. The BDI peaked on November 5, 2014 when the Index was at 1484 and dropped as low as 509 on Feb. 18, 2015. The […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes, for thousands of goods and materials. For an explanation of this program see the end of this piece. The latest release last Friday reported results through May. We run this analysis every three or four months to give readers […]
A quick reminder that this weekend is Memorial Day Weekend and Steel Market Update will not publish our Sunday evening issue. The next time we will publish will be on Tuesday evening (unless something happens which warrants your immediate attention). For those of you in the United States enjoy your Memorial Day Holiday Weekend with […]
MID-SHIP continues to report concerns over weak demand in the dry cargo market coupled with over-supply of ships. The drop in shipping to and from China has pushed freight rates to their lowest levels since the mid 1980s according to the May 12 MID-SHIP Report. The Baltic Dry Index (BDI) was at a low of […]
Net imports equals imports minus exports. We regard this as an important look at the overall trade picture and its effect on demand at the mill level. Figure 1 shows that net sheet product imports on a three month moving average (3MMA) basis in March continue to be almost double that which existed before the […]
Licensed data for April was updated on May 5th through the Steel Import Monitoring System of the US Commerce Department. The SMU publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is available to our […]
Licensed data for March was updated on April 7th through the Steel Import Monitoring System of the US Commerce Department. The SMU publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is available to our […]
Steel import levels continue to increase at ports around the U.S. SMU spoke with several ports and all but one expects imports to grow, not decrease, in the coming months. Out on the West Coast, the Port of Los Angeles is still working through congestion brought about by the recent labor dispute and chassis issues. […]
Seaborne freight is picking up slightly primarily due to the South American grain export season, according to the March 25 MID-SHIP Report. The Baltic Dry Index continues to be at a very low level. The BDI registered 448 points on March 25, climbing to 596 as of March 27. The BDI tracks dry-bulk rates based […]
The Baltic Dry Index hit a thirty-year low on February 23 registering a reading of 512. As of March 11 the index increased to a still dismal 565. The Index tracks shipping rates for dry bulk cargoes like iron ore, coal and grain and is considered a barometer for global steel trade. The MID-SHIP Group […]
The Cass Freight Index Report shows freight shipments increased in February along with freight expenditures. Shipments were up 5.5 percent last month and 0.9 percent year over year, driven by seasonal demand for heating oil, coal, and sand. The American Trucking Association (ATA) reported trucking rose 1.2 percent in January. The For-Hire Truck Index stood […]
Net imports equals imports minus exports. We regard this as an important look at the overall trade picture and its effect on demand at the mill level. Figure 1 shows that net sheet product imports on a three month moving average (3MMA) basis in January were almost double that which existed before the recession. The […]