Thyssenkrupp AG is sacking its CEO of 14 months after directors determined Guido Kerkhoff is unable to reverse declining profits at the German conglomerate. Supervisory Board Chairman Martina Merz will be interim CEO for the next 12 months while a permanent replacement is sought. Kerkhoff succeeded Heinrich Hiesinger in July 2018. In May 2019, the […]
By CRU Analyst Ryan Smith Operating costs for flat-rolled minimill producers have dropped in 2019 as weaker steel markets have pulled down metallics prices. This has meant that operating costs for minimills are now in line with integrated producers in the USA. However, the current cost level is not expected to be maintained. (See related […]
This report is designed to be a big picture summary of data we have reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and sellers. See the end of this piece for an explanation of the Key Indicators […]
The global manufacturing sector downturn continued to worsen in August. The J.P.Morgan Global Manufacturing PMI posted a 49.5 for its fourth month of contraction. More than half of the nations surveyed by J.P.Morgan and IHS Markit had PMI readings below the neutral 50 mark last month, with Germany and the Czech Republic declining at the […]
SMU contributor Gaurav Chhibbar is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Gaurav’s previous role, he was a trader at Cargill spending time in […]
Steel Market Update’s analysis of Key Market Indicators shows the present market situation was basically unchanged in the last month, based on data released in July, but half the 36 indicators trended positive and half negative. This report is designed to be a big picture summary of data on which we have reported in detail […]
Global manufacturing contracted in June with manufacturing indices falling as trade tensions and tariffs impacted business conditions. At 49.4, the J.P. Morgan Global Manufacturing PMI contracted to its lowest rate in six-and-a-half years. International trade continued to weaken with export orders falling for the tenth consecutive month. The majority of countries in the June survey […]
Steel Market Update’s analysis of the Key Market Indicators shows a slight improvement in both our view of the present situation and in the trend of the indicators in June. This report is designed to be a big picture summary of data on which we have reported in detail during the month. In it we […]
Key Market Indicator trends deteriorated in May and were the worst since October 2016, according to Steel Market Update’s analysis. This report is designed to be a big picture summary of data we have reported in detail during the month. In it we summarize 36 data streams that critically describe the state of the steel […]
Coking coal, scrap and zinc prices have weakened in the last month. Table 1 summarizes the price changes through April of the five materials considered in this analysis. It reports the month / month, 3 months / 3 months and 12 months / 12 months changes and tells us that at the three-month level only […]
Raw materials prices have lacked direction in the last month. Table 1 summarizes the price changes through March of the five materials considered in this analysis. It reports the month / month, 3 months / 3 months and 12 months / 12 months changes and tells us that iron ore and pig iron declined in […]
Key market indicators were strong in February, but trends have been deteriorating for a year. This report summarizes 36 data streams that we believe critically describe the state of and provide forward guidance for the steel market. The government statistics departments are gradually catching up after the shutdown, but their revised schedules indicate that it […]
Steel Market Update is sharing this Premium content with Executive-level subscribers in this issue. For more information on upgrading to a Premium-level membership, email info@SteelMarketUpdate.com Key market indicators were strong in March and the trends have improved since January. This report is designed to provide a big picture summary of data we have covered in […]
Steel Market Update is sharing this Premium content with Executive-level subscribers in this issue. For more information on upgrading to a Premium-level membership, email info@SteelMarketUpdate.com Steel Market Update’s analysis of Key Market Indicators shows that U.S. economic trends deteriorated in April to the worst level in 27 months. This report is designed to be a […]
In the last month, there has been a positive turnaround of raw materials prices. Table 1 summarizes the price changes through February of the five materials considered in this analysis. It reports the month/month, 3 month/3 month and 12 month/12 month changes and tells us that price movements with the exception of busheling have been […]
Key Market Indicators in January, indicators of the present situation, remained strong, but trends deteriorated to the weakest level in two years. This report summarizes 36 data streams that we believe critically describe the state of and provide forward guidance for the steel market. Due to the government shutdown, 13 of the 36 indicators were […]
The Chicago Business Barometer plummeted in January, falling 7.1 points to 56.7 from December’s downwardly adjusted reading of 63.8. New orders and production contributed heavily to the decline as new orders dropped to a two-year low and production to a 10-month low. Order backlogs eased to a three-month low and delivery of raw materials improved […]
Nucor Corp. surpassed expectations for 2018, reporting net earnings of $2.36 billion for the full year compared to $1.32 billion in 2017. Net sales jumped 24 percent to $25.07 billion due to a 5 percent increase in tons shipped and an 18 percent jump in the average sales price per ton. Nucor shipped 27.9 million […]
There has been a downward reversal in raw materials prices in the last month. Table 1 summarizes the price changes through January of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes and tells us that price movements have been negative for all materials except […]
Editor’s note: Steel Market Update is sharing the following Premium content with all its readers in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. Table 1 summarizes the price changes through December of the five materials considered in this report. It reports the month/month, 3 months/3 months and […]
Global trade protectionism and political uncertainty weighed heavily on manufacturing in October. Manufacturing slowed to its lowest level in almost two years, according to the J.P. Morgan Global Manufacturing PMI. The headline index registered 52.1, down from 52.2 in September. Weaker increases in new business and a contraction of new export orders muted production growth during […]
Table 1 summarizes the October prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Price changes have been mixed. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. This was the same pattern […]
In the last 12 months, the price of coking coal and scrap have continuously trended up, zinc has continuously trended down, and iron ore and pig iron have been erratic. Table 1 summarizes the price changes through November of the five materials considered in this Steel Market Update report. It includes the month/month, 3 months/3 […]
Table 1 summarizes the August prices of the five materials considered in this report and the month/month, three months/three months and year/year change. In the last month, coking coal FOB Australia’s East Coast eked out a small gain as the other four experienced price declines. At the Jackson Hole meeting of the Fed on Friday, […]
Recent price changes have been mixed for steelmaking commodities. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. Table 1 summarizes the September prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Iron […]
Gaurav Chhibbar is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this new role, he and his firm design and execute risk management strategy for clients along with providing process and analytical support. In Gaurav’s previous role, he was a Trader at Cargill spending time in Metal […]
Steel Market Update’s latest look at commodity prices shows pig iron up, iron ore and zinc down, and coking coal and scrap stable in recent trading. Table 1 summarizes the current prices of the five materials considered in this report and the year-over-year change. Iron Ore The price of 62% fines delivered North China was […]
Manufacturers saw business rise in June at the fastest pace in four months. The ISM Manufacturing Index surpassed expectations by jumping to 60.1 percent from 58.7 percent in May. A reading above 50 indicates growth. New orders expanded for the 14th consecutive month, but inventories remained too low for a fourth month as suppliers struggled […]
Commercial Metals Company net sales jumped 15 percent to $1.2 billion for earnings of $42.3 million for the third quarter of fiscal year 2018, ending May 31. Earnings and sales increased from the second quarter due to strong demand across all of CMC segments. “The CMC team delivered outstanding results in our third fiscal quarter,” […]
The MNI Chicago Business Barometer gained 5.1 points in May, jumping to 62.7 and its highest level since January. Output and orders drove the increase for manufacturers, although all five Barometer components rose this month. The production index was at a three-month high and new orders at a four-month high. The backlog index was at […]