USA, the world’s 4th largest steel producer has registered marginal decline in its monthly long steel imports and as per latest data, the imports fall by 2% M-o-M in May’18.
As per custom, the nation has imported about 440,000 MT Finish long steel in May 2018 against 450,000 MT in April 2018; declined by 2.22% on monthly premises.
On contrary Y-o-Y, imports were uptick by around 4.76% during May 2018 as against 420,000 MT in May’17.
During May 2018, Bar & Rods (HS Code – 7213 & 7214) have contributed the major proportionate and registered at 290,000 MT (66%) followed by Angle and Shapes (HS Code – 7215 & 7216) 90,000 MT (20.46%) and MS Wire Rod (HS Code – 7217) 50,000 MT (11.37%), excluding Pipes and Tubes.
On an average the USA imports annual long steel at around 4.5-5.0 MnT, which is in the first 5 months of 2018 (Jan-May) stood at 1.82 MnT.
Industry believes that, steel imports in the USA to decline further with the impose import tariffs by Trump Government of 25% on steel & 10% on aluminium during Mar’18.
As per the SteelMint’s assessment in May 2018, crude steel production of the USA was around 7.11 MnT, up by 2.59% against April 2018 with 6.93 MnT.
Country wise:
In the month of May 2018, the largest exporter of Finish Long Steel to USA was Canada – 90,000 MT contributes more than 20% followed by Mexico at 60,000 MT contributes around 14% & Turkey – 40,000 MT share more than 9%.
Quantity in MnT
Source-SteelMint Stats, Custom.
Key Updates
1. In the month of May’18 Finish Long Steel Export registered at 128,192 MT down by 1.84% against 130,605 MT in Apr’18.
2. The reference index price for US origin HMS (80:20) scrap stood around USD 344-345/MT, CFR Turkey as per last assessment.
3. The nation’s Ferrous Scrap exports slightly up and registered at 1.53 MnT in May’18, surge around 2% against 1.5 MnT in Apr’18.
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