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We suspect we’ll see a second price increase announced, with about half of the original $50/ton May 22 sheet price hike sticking at the three-week mark. This is the first time…
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Posts Tagged: ‘steel analysis’
Advance/Decliner Index Remains Weak
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Our Advance/Decliner Index rose to a seven-week high as domestic sheet prices continued to climb and Chinese prices strengthened on the back of…
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U.S. Rig Count Declines, Canadian Rig Count Posts Fourth Consecutive Increase
The number of active oil and natural gas rigs in the United States fell to 1,765 for the week ending June 7, 2013, a 0.3% decline from last week’s 1,771 and some 11.0% below the year-ago level of 1,984.
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 increased for the fourth consecutive week, rising 4.8% to 152 from 145 the week before. However, rigs are a whopping 33.9% below the year-ago level of 230.
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.
YTD May Chinese Steel Exports Up Whopping 22%; Bao Cuts Prices
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May Chinese net steel exports declined 3.3% to 4.11 million tonnes (mt) from April’s post-recession high of 4.25 mt as gross steel exports…
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Iron Ore Price Posts Nominal Pick-up
The spot reference price for 62% Fe iron ore cfr North China rose 0.5% to $110.90 for the week ending June 7, 2013 but remained near an eight-month low and is some 30.2% below the recent peak of $158.90 on February 20, 2013.
The spot price for iron ore averaged $139.35 in 2Q12, $112.12 in 3Q12, $120.57 in 4Q12, and $148.16 in 1Q13; 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
June Scrap Prices Hold Up Better than Expected
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According to published data from American Metal Market (AMM), June prime and shredded scrap prices diverged due to…
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Advance/Decliner Index Falls Slightly as Chinese Pricing Continues to Deteriorate
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Our Advance/Decliner Index fell last week as pricing weakness spread to Latin America, driving our Ex-China Index down. Our China Index remained at a dismal level due to…
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May OCTG Prices Fall to Lowest Since March 2010
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According to Pipe Logix, May OCTG prices declined 1.0% (or $16/ton) to $1,665/ton, the lowest since March 2010 and some 13.1% below the recent high of $1,916/ton in …
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Advance/Decliner Index Ticks Slightly Higher on Domestic Sheet Price Hike
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Our Advance/Decliner Index rose slightly after hitting a one-year low last week due solely to…
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April Imports Surge 8.2%; Japan Highest Since Asian Financial Crisis
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Preliminary April imports jumped 8.2% to a five-month high of 2.68 million tons (mt) from 2.48 mt in March, driven primarily by…
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