According to latest customs data, USA flat steel imports which includes (7208 HR coils/Plates,7209 CR coils, 7210,7212 GP/GC and 7225 electrical sheets) was recorded at 0.88 MnT in Jan’18 in comparison to 0.78 MnT in Dec’17. Thus nation’s flat steel imports has witnessed surge by 13% on monthly basis.
Similarly on yearly premises country’s flat steel import volumes declined by 9% in Jan’18 against 0.97 MnT in Jan’17.
In CY17 country’s flat steel imports was assessed at 11.81 MnT which was stable compared to 11.84 MnT in corresponding time frame the preceding year.
Commodity-Wise USA flat steel Imports in Jan’18
| Sub Commodity | Jan’18 | Dec’17 | M-o-M (Change in %) |
Jan’17 | Y-o-Y (Change in %) |
| Galvanized Steel | 0.34 | 0.28 | 21.42 | 0.42 | -19.05 |
| HRC/Plate | 0.27 | 0.22 | 23 | 0.26 | 3.85 |
| CRC | 0.12 | 0.14 | -14 | 0.17 | -29.41 |
| Electrical Steel | 0.11 | 0.12 | -8 | 0.11 | 0.00 |
| Others | 0.06 | 0.04 | 50 | 0.01 | 500 |
| Grand Total | 0.88 | 0.78 | 13% | 0.97 | -9% |
USA Govt. announced 25% import tariffs on Steel under Sections 232 – On 7 March 2018, the U.S. government announced import tariffs of 25% on steel imports from all the countries across the globe,exempting only Canada and Mexico under NAFTA (North American Free Trade Agreement).
This move will lead to fall in import volumes to USA in near term and in turn will lead to surge in flat steel prices in domestic market.Also uncertainty in USA market on announcement of tariffs have made buyers to cancel their bookings with exporting nations.
Canada was the largest flat steel exporter to USA in Jan’18 – Canada exported 0.31 MnT flat steel in Jan’18. It occupied the largest share of imports of around 35% in Jan’18.
Other countries include Mexico with 9% ( 0.08 MnT) South Korea which occupied share of 8% (0.07 MnT),followed by Turkey at 7% ( 0.06 MnT) and Taiwan at 6.14% share ( 0.05 MnT) respectively in Jan’18.
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