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) moved up marginally by 1.4% to 2.73 MnT in Q1CY18 (Jan- Mar) against 2.69 MnT in similar time frame of previous year.
However on monthly premise nation’s flat steel imports stood at 1.04 MnT in Mar’18,higher by 28% in comparison to 0.81 MnT in Feb’18.
Similarly on yearly basis the same moved up by 17% to 1.04 MnT in Apr’18 against 0.89 MnT in Apr’17.
Imposition of USA Tariff amid surge in nation’s steel imports-In March 2018,the Trump government announced steep tariffs of 25% and 10% on steel and aluminum imports, it temporarily exempted seven of its trade allies including Canada, Mexico, EU (European Union), South Korea, Brazil, Argentina, and Australia.However the implementation has been delayed till 1 May 2018.
Also the U.S. president announced that the imposition of tariffs on EU, Mexico, and Canada will be further delayed by a month till 1 June 2018 till the deals are finalized with these countries with further talks.
The White House in Mar’18 spared South Korea from the duties after Seoul accepted a quota of 70% of the average of its steel exports to the U.S. in last three years. Thus U.S. confirmed that South Korea was granted a permanent exemption in a presidential proclamation.
Commodity-Wise USA flat steel Imports in Mar’18-Galvanized steel and HRC/Plate imports moved up significantly in the month of Mar’18.
| Sub Commodity | Mar’18 | Feb’18 | M-o-M (Change in %) |
Mar’17 | Y-o-Y (Change in %) |
| Galvanized Steel | 0.34 | 0.29 | 17.24 | 0.38 | -10.53 |
| HRC/Plate | 0.32 | 0.23 | 39.13 | 0.23 | 39.13 |
| CRC | 0.17 | 0.11 | 54.54 | 0.15 | 13.33 |
| Electrical Steel | 0.16 | 0.12 | 33.33 | 0.11 | 45.45 |
| Others | 0.06 | 0.05 | 20 | 0.02 | 200.00 |
| Grand Total | 1.04 | 0.81 | 28% | 0.89 | 17% |
Quantity in MnT
Source-SteelMint Research
Country-Wise USA Flat Steel Imports in Q1CY18 – Canada was the largest flat steel importer of USA and imported 0.94 MnT flat steel and occupied the share of 34.44% in Q1CY18.
Second largest importer was South Korea at 0.29 MnT and accounts for 11% of share in Q1CY18.
Third largest importer of flat steel was Mexico imported 0.23 MnT holds the share of 8.37 MnT of in Q1CY18.
Other major flat steel importing nations were Vietnam at 0.13 MnT ( 4.73%),Japan at 0.12 MnT ( 4.47%) Taiwan at 0.12 MnT ( 4.44%) followed by Germany at 0.12 MnT ( 4.22%) and Turkey at 0.11 MnT (4.14%) in Q1CY18.
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