Shipments of heating and cooling equipment fell for the sixth straight month in November, reaching the lowest rate seen since October 2016, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Freight rates have risen $30-$50 on transatlantic cargoes, depending on the final destination.
Flat rolled = 57.1 shipping days of supply Plate = 55.7 shipping days of supply Flat rolled US service centers reined in flat roll supply in May, coinciding with declining shipments. At the end of May, service centers carried 57.1 shipping days of supply, according to adjusted SMU data. That’s down slightly from 57.6 shipping […]
What's going on in West Coast ports?
Quotas featured in the UK agreement may show up in future deals.
Container shipping lines have sharply increased blank sailings on Transpacific routes in response to escalating trade tensions between the US and China.
Steel service center shipments and inventories report through March 2024.
The US Trade Representative (USTR) has drafted a proposal targeting the Chinese shipbuilding industry by setting elevated port fees for any maritime shipping company associated with Chinese-built vessels.
With construction seasonally soft, the flatbed market remains softer than the other main trailer types.
In 2024, volatility with a capital “V” has been the rule. That will remain high heading into 2025.
Following the short-lived East Coast port labor strike in October, we now turn toward the Jan. 15 deadline to reach a long-term agreement.
Another day, another massive gap between the news and market sentiment. On the news side, we’ve got war in the Middle East. The devastation facing western North Carolina coming into tragic focus. And the outcome of the presidential election remains a coin toss, according to current polling.
All eyes are on the coastwide longshoremen's strike, with many scrambling to assess the situation and understand its implications for their businesses and the economy.
Unless a last-minute deal is struck by midnight on Monday, a massive work stoppage will hit ports up and down the East and Gulf Coasts on Tuesday and cause widespread supply chain disruption. Master contract negotiations remain stalled between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX). The employer group took […]
A potential labor strike is threatening to disrupt supply chains up and down the Atlantic and Gulf Coasts beginning next week.
Galvanized prices have fallen precipitously from a month ago, though many market participants think a bottom is in sight.
The price gap between US cold-rolled (CR) coil and imported CR has fallen to a 10-month low as domestic tags continue to drift lower. Domestic CR coil prices averaged $920 per short ton (st) in our check of the market on Tuesday, July 16, down $40/st from the week before. CR tags are now down […]
The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) have just over two months left to reach a new labor agreement and avoid a strike at all Atlantic and Gulf Coast ports. However, with talks still suspended, ILA’s president says a strike looks more likely with each passing day.
US hot-rolled (HR) coil prices this week drifted further below offshore hot band prices on a landed basis. The premium is now near a two-year low. SMU’s check of the market on Tuesday, July 16, put domestic HR coil tags at $640 per short ton (st) on average, down $10/st from last week. Stateside hot […]
Steel mill lead times remain short according to our latest market canvass of steel service center and manufacturer buyers. Of the sheet and plate products SMU tracks, production times for all materials are nearing historical lows not seen in months or years.
Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.
Flat Rolled = 60.9 Shipping Days of Supply Plate = 59 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply remained high at the end of June at 60.9 shipping days of supply, according to adjusted SMU data. This translates to 3.05 months of supply in June. At the end of May, […]
Reliance Inc. has reached an agreement to buy certain assets of Ferragon Corp.'s FerrouSouth division, a toll processing operation based in Iuka, Miss.
Offshore cold-rolled (CR) coil remains cheaper than domestic product. The gap continues to tighten, however, as US CR coil prices slip to a nine-month low. Domestic CR coil tags averaged $960 per short ton (st) in our check of the market on Tuesday, July 9, down $5/st from the week before. CR tags are now […]
Renewable energy infrastructure, including wind turbines, solar farms, and electric-vehicle charging stations, requires substantial amounts of steel. The domestic steel industry, with its capacity to produce world-class steel with the world’s smallest carbon footprint, should be at the forefront of this supply chain. Yet the United States is increasingly importing steel from abroad to meet its renewable energy needs.
US hot-rolled (HR) coil prices continued to drift lower this week, falling further below imported hot band tags on a landed basis. SMU’s check of the market on Tuesday, July 9, put domestic HR coil tags at $650 per short ton (st) on average, down $15/st vs. last week. Domestic HR coil prices are now […]
Flood-level waters have prompted the US Army Corps of Engineers (USACE) to close locks on the Mississippi River.
US hot-rolled (HR) coil prices fell again this week – now on a 13-week run – causing tags to drift further below offshore hot band prices on a landed basis.
Steel mill lead times remain near some of the lowest levels witnessed in months, according to our latest market canvass to steel service centers and manufacturers.
Offshore cold-rolled (CR) coil remains cheaper than domestic product pricing even as US CR coil prices slip to an eight-month low. Domestic CR coil tags stood at $975 per short ton (st) on average in our check of the market on Tuesday, June 25, down $20/st from the week before. Domestic CR prices are, on […]