United States Steel Export Statistics: Q1-2019

United States witnessed a drop in exports of raw martials in Q1 CY’19, while finished steel exports witnessed an increase, recent customs data showed. USA’s total crude steel production in Q1 CY’19 stood at 22.3 MnT, marginally down by 1% Q-o-Q against 22.57 MnT of production in Q4 CY’18.

Ferrous scrap exports decline in Q1’CY19 – USA exported 3,606,067 MT of ferrous scrap in Q1 CY’19, dropping  14% Q-o-Q against 4,199,213 MT exported in Q4 CY’18. While exports dropped 11% Y-o-Y as against 4,030,837 MT ferrous scrap in Q1 CY’18. Fewer bulk cargo bookings were witnessed from Turkey and Taiwan in January due to sharp increase in offer price in this period, however bookings again picked up by March after price correction and stability was observed.

Country-wise – Turkey remained the largest importer occupying a share of 23% in total scrap exports from USA in Q1 CY’19. It imported 825,472 MT in Q1 CY’19, witnessing a rise of 11% Q-o-Q from Q4 CY’18. Followed by other prominent importers Taiwan (419,436 MT, down 20% Q-o-Q), South Korea (359,025 MT, up 17% Q-o-Q ), Canada (311,309 MT, down 25% Q-o-Q) and Mexico (304,085 MT, down 4% Q-o-Q) occupying 12%, 10% , 9% and 8% share respectively.

On monthly basis, scrap exports increased by 22%, as USA exported 1,436,766 MT in Mar’19 as against 1,180,142 MT in Feb’19. Ferrous scrap export prices to Turkey increased continuously in Jan‘19 before observing price correction in later half of February and remaining more or less stable for the rest of the quarter.

During Q1 CY19, exports of all the major coal grades-coking, non-coking and pet coke, had witnessed Y-o-Y fall from Q1 CY18. Altogether these commodities accounts for 95% of the total export volume. A gradual decline in export demand along with slow domestic coal consumption has in fact weighted down US production estimates for CY19.

US energy planner, EIA, has highlighted in its short term outlook that US coal output would reach 700 million short tons (MMst) in 2019, down 7% Y-o-Y from CY18.US coal production in the first quarter of CY19 was 170 MMst, 22 MMst (12%) lower than the previous quarter and 17 MMst (9%) lower than production in the first quarter of CY18.

Iron ore exports down 71% in Q1 CY’19 – United States iron ore exports fell 71% to 0.94 MnT in first quarter CY19, as against being 3.24 MnT in Q4 CY18. On yearly basis, exports dropped 33% as compared to 1.4 MnT in Q1 CY18.

Country-wise – Canada stood the largest importer for the quarter at 0.83 MnT, down sharply against 2.61 MnT in Q4 CY18, followed by Poland at 0.04 MnT. Mexico and Japan recorded imports at 0.03 MnT each.

For the month of Mar’19, US exports marked in line with Feb’19 exports at 0.19 MnT. Canada contributed 84% of total export share at 0.16 MnT, and remaining 16% contributed by Japan at 0.03 MnT.

Flat steel exports up by 5% Q-o-Q in Q1 CY’19 –  Nation’s flat steel imports marginally up by 5% to 1.28 MnT in (Jan-Mar) Q1 CY’19 which was 1.22 MnT in previous quarter (Oct-Dec).Whereas on monthly basis flat steel imports inched down by 2% in Mar’19 to 0.41 MnT in comparison to 0.42 MnT in preceding month. Meanwhile on yearly basis nation’s flat steel imports slumped by 23% in Mar’19 as compared to 0.53 MnT in the corresponding month previous year.

Country-wise – Flat steel exports to Mexico inched up by 2% and stood at 0.62 MnT in Q1 CY’19 against 0.61 MnT in the previous quarter. Nation’s exports to Canada accounted for 0.53 MnT in Q1 CY’19 followed by India, China, Pakistan, Spain, South Korea, Colombia and Guyana at 0.01 MnT each.

Finish long steel exports surge by 5% Q-o-Q – The country exported 0.21 MnT of finished long steel in Q1CY’19 against 0.20 MnT in Q4CY’18 with getting firm prospective outcome from Trump administration and observed reciprocate move by Canada to lift the tariffs & Nation wise Canada remain top importer with 0.13 MnT in Q1CY’19 which is being surged by 8% against 0.12 MnT in Q4CY’18.

USA Steel Export Statistics Q1 CY’19

Quantity in MT,
Source: SteelMint Stats