United States Steel Export Statistics: May 2019

United States, one of the major steel producers in the world, witnessed a rise in exports of ferrous scrap, Coal, Finished Flat Steel and Graphite Electrode in May’19 while exports of Iron Ore and finished long  products witnessed a decrease, the recent customs data showed. USA’s total crude steel production in May’19 stood at 7.65 MnT, slightly increasing by 3% M-o-M against 7.43 MnT of production in April’19.

Ferrous Scrap – US ferrous scrap exports showed a considerable rise in May’19 on improved supply side with seasonal support. It exported 1,694,801 MT ferrous scrap in May’19, rising by 15% M-o-M as against 1,476,986 MT in Apr’19. On yearly premises, scrap exports increased by 11% Y-o-Y as against 1,533,168 MT ferrous scrap recorded in May’18. It is observed that bookings from Turkey and Canada for May delivery were significantly increased at lowered prices.

Country wise – Turkey remained the largest importer occupying a 20% share in total USA scrap exports, as it imported 341,653 MT in May’19 against 201,173 MT in Apr’19, observing a rise of 70% M-o-M. Canada remained the 2nd largest importer with a 15% share, as it imported 256,146 MT in May, rising 66 % M-o-M. Other top scrap importers were South Korea (160,303 MT, up 66% M-o-M), Taiwan (125,978 MT, down 14% M-o-M) and Mexico (120,951 MT, up 9% M-o-M) with 9%, 8% and 7% share respectively.

US origin HMS 80:20 scrap export prices showed a continuous downtrend throughout April and early May, as prices for the same, fell from USD 316/MT levels in beginning of April to around USD 290/MT CFR Turkey, levels by early May’19, post which sharp uptrend in the prices was observed again.

Coal – Coal exports from the US have increased 2% on the month to 10.99 MnT in May’19 compared with 10.74 MnT in Apr’19. Export volumes recovered m-o-m post resumption of vessel movement over the Mississippi river following April floods. Exports, however, continued its downward trend y-o-y as it fell 11% from 12.34 MnT in May’18.

During the first 5 months of CY19 (Jan’19-May’19), coal exports have totaled 54.9 MnT down 10% Y-o-Y from 61.2 MnT recorded in same period last year. The drop in exports is due largely to a fall in global coal demand, which had compelled coal producers to consider cutting back output. As per the data provided by EIA, US coal production during the first quarter of CY19 totaled 179.5 million short tons (MMst), which was 6.7% lower than the previous quarter and 4.3% lower than the first quarter of 2018.

Country-wise – India remained the largest coal receiver of US coal in May’19, with imports of 1.69 MnT coal. Import volume had registered a modest growth on the month from 1.64 MnT in Apr’19, but was 18% higher on the year from 1.43 MnT in May’18. Japanese coal imports from the US increased 22% M-o-M to 1.61 MnT in May’19, which had jumped 64% on the year from 0.98 MnT in May’18. Brazil overtook Netherlands to become the third-largest coal importer in May’19. Brazilian imports were marked at 0.8 MnT, down 10% M-o-M from 0.89 MnT in Apr’19.

Iron Ore – United States iron ore exports for the month of May’19 witnessed at 1,274,896 MT, marginally down by 4% compared to 1,321,793 MT in Apr’19. On yearly basis, exports dropped by 22% as against 1,627,828 MT in May’18.

For CY19 (Jan-May’19), exports witnessed at 3,534,812 MT, down 13% as against 4,070,541 MnT in CY18 (Jan-May’18).

Country-Wise – Canada stood the largest importer of iron ore from US at 859,551MT, down 8% against 930,790 MT in last month. Japan stood second largest at 335,422 MT (stable M-o-M) followed by Slovenia at 79,701 MT of Iron ore exports.

Finished Flat – On monthly premise USA flat steel exports witnessed an increase of 6% in May’19 to 433,513 MT which was 407,300 MT in the preceding month. As per market reports, the Trump administration had lifted the tariffs on imports coming from Canada and Mexico in mid May’19. Also as per agreement Mexico and Canada also agreed on the removal of all retaliatory tariffs imposed on American products. This improved trade relations with USA which in turn resulted to surge in nation’s flat steel exports in May’19. Whereas on yearly basis the same slashed by 19% in May’19 as against 534,764 MT in May’18.

During first five months (Jan-May) CY’19 nation’s flat steel exports accounted for 2,120,099 MT; declined by 18% in comparison to 2,595,515 MT in corresponding time frame of CY’18.

Country-wise – USA majorly exports flat steel to Mexico and recorded at 211,155 MT in May’19, up by 4% in comparison to 202,109 MT in previous month. Following this USA also exported flat steel to Canada at 176,201 MT, India 5,622 MT and China at 2,077 MT in May’19. USA also exported to Pakistan, South Korea, Brazil, United Kingdom, Colombia and Belgium in smaller quantities in May’19.

Finished Long – US finished long steel exports showed stability in May’19 as it exported 60,276 MT of finished long in May’19, marginally down by 1% M-o-M as against 60,823 MT in Apr’19. On yearly premises, exports fell by 53% Y-o-Y as against 128,192 MT finished long recorded in May’18.

Country-wise – Canada remained the largest importer occupying a 61% share in total USA finished long exports, as it imported 36,811 MT in May’19 against 37,770 MT in Apr’19, observing a drop of 3% M-o-M. Other top scrap importers were Mexico (16,255 MT, up 7% M-o-M), and Dominican Republic (1,830 MT, down 27% M-o-M) with 27% and 3% share respectively.

Quantity in MT,
Source: SteelMint Stats