Global manufacturing stayed steady at a strong reading of 53.2 in September. The J.P. Morgan Global Manufacturing PMI was unchanged from the August reading with consumer, intermediate and investment goods all signaling expansion. Production rose, driven by new orders and international trade volumes and bumping up employment for the month. Higher input costs pushed selling […]
Steel market indicators look good in the September data. Our view of the present situation is that 50 percent of the 36 indicators are historically positive with only 19 percent negative. The balance of them are within the band of historically normal. This was the same result as May and August. Along with September, these […]
The price of iron ore is falling but zinc is at a 10-year high. In this report, we examine the latest prices for iron ore, scrap, coking coal and zinc and their relationship to the dollar. “Right now, the dollar has a lot going against it. The administration in the U.S. continues to hope the […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
Global manufacturing rose to a 75-month high in August. The J.P. Morgan Global Manufacturing PMI climbed to 53.1 from 52.7 in July. Most components of the PMI increased in August and at a faster rate. Future output was the only measure to remain the same as July, at a strong 63.5. Developed nations on average led […]
Half of the 36 Key Steel Market Indicators released in August are historically positive, while only 19 percent are negative, and the balance fall within the normal range, in Steel Market Update’s view. Along with May, when the data was about the same, this is the best outlook since we began our analysis in January […]
This article is normally reserved for our Premium members, but we are sharing it with our entire readership this month. To learn more about what our Premium members receive, click here. Steel Market Update offers this update on the currencies of the steel and iron ore trading nations through Aug. 21. The analysis of currency […]
BlueScope Steel, the parent of North Star BlueScope, will have a change in command. Mark Vassella has been appointed the new managing director and chief executive officer following retirement by outgoing CEO Paul O’Malley effective Dec. 31, 2017. O’Malley has been at the helm of BlueScope Steel the past 10 years of his 12-year tenure. […]
In this report, updated July 28, we examine the latest prices for iron ore, scrap, coking coal and zinc. To put the raw materials analysis into perspective, we begin with Figure 1, which shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through July 21, both in $/net ton. On […]
Manufacturing activity in the U.S. expanded in July, though the PMI declined 1.5 percentage points to a reading of 56.3, reports the Institute for Supply Management in its latest Manufacturing ISM Report On Business. The PMI has remained above the neutral 50.0 point for 11 consecutive months indicating growth in manufacturing. Although still at robust […]
The JP Morgan Global Manufacturing PMI registered 52.7 in July indicating continued manufacturing growth across the globe. During the last four months, manufacturing expansion has remained steady at 52.6 in June and May, and 52.7 in April. Growth in June was again led by European nations with eight of the ten best-performing countries in Europe. […]
In the Key Indicators data released in July, both the present situation and trends have recovered from what now appears to have been a temporary downward blip in June. Trends lead the present situation by about four months. An explanation of the Key Indicators concept is given at the end of this piece for those […]
An explanation of the Key Market Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation, which is subjective, and our analysis of trends, which is based on the latest facts available. In the June […]
Schnitzer Steel, a metals recycler and steel bar producer, reported its best third quarter since FY 2012. Total revenue increased 36 percent sequentially and 25 percent year-over-year to $477 million. Net income was up 50 percent from second quarter and 51 percent from Q3 2016 to $17 million. The improvement was primarily in the company’s […]
Global manufacturing was at a six month low in May according the latest JP Morgan Global Manufacturing PMI. The composite index inched down to 52.6 from 52.7 in April. Developed nations showed solid steady expansion in manufacturing while growth in emerging nations was nearly flat. The PMI for the U.S. was at an 8 month […]
Manufacturing activity expanded in May according to the Manufacturing ISM Report on Business. The PMI rose 0.1 percent from April to a reading of 54.9 percent. The new orders index rose 2 points to 59.5 percent while the production index declined 1.5 points to 57.1. Inventories were relatively stable in May. The inventory index rose […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. We now have three […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. We now have two […]
The JP Morgan Global Manufacturing PMI dipped slightly to 52.8 in April from 53.0 in March. The PMI has shown expansion (above the 50 no-change mark) for 14 months. Manufacturing conditions slowed in the U.S. but was offset by acceleration in Europe, Japan and the United Kingdom. China expanded at its weakest rate in seven […]
Manufacturing activity in the U.S. continued to grow in March according to the Manufacturing ISM Report on Business. The composite headline PMI registered 57.2 compared to 57.7 in February for its seventh consecutive month of growth. Index readings for New Orders and Production were strong at 64.5 and 56.6, respectively, but slowed from February readings […]
For the thirteenth consecutive month, manufacturing across the globe expanded. The JP Morgan Global Manufacturing PMI posted at 53.0 in March, the same as its February 69-month high. First quarter 2017 averaged a reading of 52.9, the best quarter since Q2 2011. As expected with a no-change reading, components of the PMI were little changed […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. During March our view […]
Olympic Steel executives weighed in on steel demand, pricing, and government changes during the company’s earnings call last week. Olympic Steel CEO Michael Siegal attributes the rebound in steel pricing to “supply side dynamics combined with political optimism towards the business community after the very negative environment around the presidential campaign.” Said Siegal, “Entering 2017, […]
We at Steel Market Update (SMU) have been upbeat on the steel market for many weeks. We thought sharing our Key Market Indicators (KMI) with our readers would help everyone to understand our reading on the market and from where we get our core optimism. An explanation of the Key Indicators concept is given at […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. During February our view […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals director of risk management, Dave is an active participant in the hot rolled coil (HRC) futures market and we believe he will provide insightful commentary and trading ideas to our readers. Besides writing Futures […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. Looking back from the […]
The ISM Report on Business indicates expansion of economic activity in the U.S. manufacturing sector and a 92nd month of growth for the overall economy. The Institute for Supply Management report showed the January manufacturing PMI at 56 percent, an increase of 1.5 percentage points from December. Almost all of the components of the PMI […]
The following article has been revised as of 1-25-2017. Net income/loss was incorrectly reported. SMU apologizes for the confusion. AK Steel reported a net loss of $62.4 million in the fourth quarter of 2016 compared to net loss of 145.4 million in Q4 2015. Sales totaled $1.42 billion with an average selling price of $998 […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission. However, we did need to make some edits to help our readers to better understand the message that is trying to be portrayed: Please allow us to update […]