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Insteel Industries (IIIN) reported JunQ earnings of $0.18/share, which adjusted to $0.19/share, substantially below the Street’s $0.27/share and slightly lower than…
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Posts Tagged: ‘global steel’
Global Steel Production Stable in June; Chinese Output Nominally Down
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June global steel production came in unchanged from May at 4.39 million tonnes per day (mtpd), bucking the normal 1.4% seasonal increase, as a 0.3% decline in China was…
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Domestic Raw Steel Production Hits 13-Month High, Capacity Utilization Hits 14-Month High
Weekly domestic raw steel production rose 1.2% from 1.881 million tons (mt) last week to 1.904 mt for the week ending July 20, 2013, a 13-month high and some 3.7% above the year-ago level of 1.837 mt.
We would caution readers that only half of the AISI reporting companies release their weekly production in “real time” so the other half of this data is estimated using the last month’s reported production & operating rate. What this means is that when production is changing, the weekly data is actually understating the change.
Capacity utilization rose from 78.5% last week to a 14-month high of 79.5%, which is above the year-ago level of 74.3%.
The lowest production since the recession began was 800,000 tons for the week of December 27, 2008, while the highest was 2.005 mt for the week of May 12, 2012. The lowest capacity utilization rate since the recession began was 33.5% for the week of December 27, 2008; the highest was 81.1% on May 12, 2012.
Source: AISI and Steel Market Intelligence
Iron Ore Price Continues Climb, Nearing Three-Month High
The spot reference price for 62% Fe iron ore cfr North China rose 3.9% to $131.70 for the week ending July 19, 2013. The price climbed as high as $131.90 during the week, which was the highest price since April 30, 2013, before settling at $131.70 at the end of the week.
The spot price for iron ore averaged $112.12 in 3Q12, $120.57 in 4Q12, $148.16 in 1Q13, and $125.76 in 2Q13; the full-year 2012 average was $128.30.
The post-recession low was $59.10 on March 27, 2009, while the high was $190.19 on February 17, 2011.
Source: The Steel Index
U.S. Rig Count Increases to Five-Week High, Canadian Rig Count Climbs To Four-Month High
The number of active oil and natural gas rigs in the United States increased 0.6% to 1,770 for the week ending July 19, 2013, up eleven from last week’s count of 1,759, but is some 8.5% below the year-ago level of 1,935.
The highest weekly rig count in the United States since 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.
The number of rigs in Canada climbed for the tenth consecutive week, jumping 10.2% from 294 to 324 to the highest level since March 22, 2013. The count is some 1.2% below the year-ago level of 328.
The highest rig count for Canada was 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.
Source: Baker Hughes Inc.
June Flat-Rolled Inventory Lowest in Two Years; Shipments Pick Up Strength on Price Hikes
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June carbon steel inventories declined another 1.2% to the lowest since February 2011, while average daily shipments gained 0.8%, bucking the normal seasonal drop of …
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Advance/Decliner Index Rises to Six-Month High
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Our Advance/Decliner Index rose to a six-month high as rising iron ore prices (two-month high) continue to drive improving sentiment despite bearish news on China’s growth.…
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First Half Chinese Steel Production Surges Nearly 10% – Exports Up 18%
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June Chinese steel exports rose 1.2% to 4.16 million tonnes (mt) from 4.11 mt in May as a nominal 0.3% decline in production swamped a…
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Advance/Decliner Index Rises Above 50; Highest Since February
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Our Advance/Decliner Index rose for the fifth consecutive week, rising to the highest level since February as global raw material prices trended higher in the week…
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June ISM Steel Survey – Optimism in the Air
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The June Institute for Supply Management Steel Buyer Survey once again showed an improved outlook for the overall economy and respondents’ own businesses after hitting a…
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