Market Update





The Gerdau Market Update tracks and analyzes over 100 data streams that affect long steel consumption, attempting to provide the latest on market trends. Below, you will find the most recent information about Macroeconomics, Steel Econometrics, Construction and Manufacturing as it becomes available.

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Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in July 2022 remained flat month on month (m/m) to $272.6M, following the 0.1% decrease in July. The always-volatile nondefense aircraft orders, up 45.2% y/y, influenced this trend significantly.
­­­Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in August 2022, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that August’s three month total (3MT) construction expenditures grew by 11.1% year on year (y/y) to $494.0 billion. On a 12MT basis, private expenditures advanced 15.0% y/y, state & local increased by 0.5% y/y, and federal spending increased 4.6% y/y.
­­U.S. Steel Capacity Utilization: The total tonnage for the week ending September 24th was 1.683 million net tons, at a capacity utilization rate of 76.4%. The year-to-date tonnage output is 68.586 million net tons, at an average capacity utilization rate of 80.1%. In 2021, the same output total was 78.216 million net tons, at an average capacity utilization of 80.4%.
U.S. Steel Rebar Final Imports: Final rebar imports to the U.S. came in at 155,266 tons for the month of July 2022, up 42% m/m. Turkey was the largest exporter of rebar with 70,036 tons this month (45%). The Houston-Galveston, TX port was the largest receiver of rebar this month, receiving 59,862 tons.
U.S. Steel Merchant Final Imports: Final merchant imports to the U.S. came in at 46,162 tons in July 2022, decreasing 10.1% month over month (m/m). Canada was the largest exporter to the U.S. with 20,465 tons; Mexican imports came in at 20,311 tons. Laredo, TX was the largest receiver of merchants this month, receiving 13,744 tons of the total.
U.S. Fabricated Beam Final Imports: Final fabricated beam imports to the U.S. came in at 48,775 tons in July 2022, decreasing 18% month over month (m/m). Mexico was the largest exporter of fabricated beams with 16,849 tons this month (35%). The Laredo, TX port was the largest receiver of fabricated beams this month, receiving 9,953 tons.
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