USA, the world’s largest scrap exporter has elongated its Finish long steel exports in first half (H1) of CY18 against the same period of CY17.
As per the customs, the nation has exported about 0.8 MnT Finish Long steel in H1 CY18, up by around 29.03% against 0.62 MnT in H1 CY17.
Similarly, on monthly comparison the Finish long steel exports surge by 7.69% to 0.14 MnT in Jun’18 as compared to 0.13 MnT in May’18 & On yearly premises it’s edged up by 27.27% against 0.11 MnT in Jun’17.
Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).
Bar’s & Rods have contributed the major export proportionate during H1 CY18 and registered at 0.39 MnT (+34%) followed by Structure (Angle and Shapes) 0.37 MnT (+32%) and remaining Wire Rod 0.04 MnT (-33%). The changes are mentioned are compared to H1 CY17.
Commodity-wise Export (Qty in MnT)
| Sub Commodity | H1CY17 | H1CY18 | Change | May-18 | Jun-18 | Change |
| Rebar | 0.29 | 0.39 | 34% | 0.06 | 0.08 | 33% |
| Structure | 0.28 | 0.37 | 32% | 0.07 | 0.06 | -14% |
| Wire Rod | 0.06 | 0.04 | -33% | 0.01 | 0.01 | 0% |
| Grand Total | 0.62 | 0.8 | 29% | 0.13 | 0.14 | 8% |
Country wise:
During H1 CY18, the largest importer of Finish Long Steel was Canada – 0.59 MnT (+37%), & Mexico stood at 0.16 MnT (+23%). The changes are mentioned are compared to H1 CY17.
Key Updates
— The U.S. government has doubled import tariffs from 25% to 50% on steel imports from Turkey with effect from today i:e; 13 Aug’18 as per sources.
— Turkish currency plunge to record low to 6.84 against USD with US imposing double import tariffs on Turkey.
— USA: Finish Long Steel Imports Drifted Down by around 26% in H1 2018 with 2.04 MnT against 2.78 MnT in H1 CY17.
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