USA, the world’s 4th largest steel producer has registered consequent rise in its monthly long steel imports and as per latest data, the imports surge by 29% M-o-M in Apr’18.
As per custom, the nation has imported about 450,000 MT Finish Long steel in April 2018 against 350,000 MT in March 2018, which has been registered growth by around 29% on monthly premises. Prior to this during Jan & Feb 2018 imports were around 290,000 MT, each month.
In line with Y-o-Y, imports were uptick by around 10% during Apr 2018 as against 410,000 MT in Apr’17.
During April 2018, Bar’s & Rods (HS Code – 7213 & 7214) have contributed the major proportionate and registered 270,000 MT with 60% which is the same proportionate M-o-M basis followed by Angle and Shapes (HS Code – 7215 & 7216) 130,000 MT up by 44.44% on monthly basis and MS Wire Rod (HS Code – 7217) 50,000 MT excluding Pipes and Tubes.
As per the SteelMint’s assessment in April 2018, the crude steel production of the USA was around 6.93 MnT down by 4.54% against March 2018 with 7.26 MnT.
Country wise:
In the month of April 2018, the largest exporter of Finish Long Steel to USA was Canada – 80,000 MT followed by Turkey at 60,000 MT & Mexico – 70,000 MT M-o-M basis.
Top Load Country (Jan to Apr 2018)
Source-SteelMint Stats, Custom.
Key Updates
1. The reference index price for US origin HMS (80:20) scrap stood around USD 355-357/MT, CFR Turkey as per last assessment.
2. The nation’s Ferrous Scrap exports slightly up and registered at 1.5 MnT in Apr’18, surge around 3% against 1.46 MnT in Mar’18.
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