According to the recent customs data, USA’s flat steel imports which includes 7208 (HR coils /Plates), 7209 (CR coils), 7225 (Electrical sheets),7210/7212(GP/GC) rose by 3% M-o-M basis in Oct’18 to 0.94 MnT which was 0.91 MnT in previous month.
Although on an yearly basis it move down by 8% in Oct’18 with respect to 1.02 MnT in Oct’17.
In first ten months of CY18 (Jan-Oct), country’s cumulative flat steel import volumes stood at 9.4 MnT registering a drop of 7% against 10.13 MnT during the same period last year.
USA trade tariffs results to lower imports and higher steel prices in domestic market – The 25% tariffs on steel imports, which the Trump administration levied in March, appear to be bearing fruit as reflected by a decline in U.S. steel imports year to date in October’18.
Moreover, the tariffs have provided a thrust to U.S. steel prices also amid significant increase in hot-rolled steel prices this year,giving American steel makers more pricing power.
Thus higher U.S. steel prices are driving the profitability of domestic steel makers.Meanwhile the tariffs are also boosting production capacity of domestic steel makers amid lower imports.
Commodity wise flat steel imports in Nov’18
| Sub Commodity |
Oct’18 | Sep’18 | Change in % |
Oct’17 | Y-o-Y (change in %) |
| HRC/Plate | 0.33 | 0.31 | 6.45 | 0.38 | -13.16 |
| Electrical Steel | 0.35 | 0.33 | 6.06 | 0.28 | 25 |
| Galvanized Steel | 0.11 | 0.13 | -15.38 | 0.18 | -38.89 |
| CRC | 0.12 | 0.11 | 9.09 | 0.14 | -14.29 |
| Others | 0.04 | 0.03 | 33.33 | 0.05 | -20 |
| Grand Total | 0.94 | 0.91 | 3% | 1.02 | –8% |
Quantity in MnT
Source-SteelMint Research
County-wise USA flat steel imports in Oct’18- Canada tops the list exporting 0.27 MnT in Oct’18 against 0.25 MnT in the previous month.Secondly South Korea stood at 0.15 MnT in Oct’18,higher by 7% as compared to 0.14 MnT in previous month.
Followed by Mexico and Vietnam which stood at 0.08 MnT against 0.06 MnT showing an increase of 25% on monthly basis.Other major exporters were Netherland at 0.07 MnT,Germany at 0.04 MnT,Turkey and Taiwan at 0.03 MnT in Oct’18.
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