USA, the world’s 4th largest steel producer in the world has witnessed increase in its Finish long steel imports by 7% M-o-M in Jan’18.
To restrict imports recently the U.S. government announced steep import tariffs of 25% on steel imports from across the globe exempting only Canada and Mexico indefinitely under NAFTA (North American Free Trade Agreement).
As per the customs, the nation has imported about 290,000 MT Finish Long steel in January 2018 against 270,000 MT in December 2017, surge by 7.40% on monthly premises. On the contrary Y-o-Y, imports were down by 35.55% against 450,000 MT in Jan’17.
Bar’s & Rods have contributed the major proportionate and registered 180,000 MT followed by Angle and Shapes 60,000 MT and MS Wire 50,000 MT excluding Pipes and Tubes.
As per the SteelMint’s assessment in January 2018, the crude steel production of the USA was around 6.82 MnT which has been slightly improved to around 1% from December against 6.76 MnT on the other hand ferrous scrap exports dipped to 7.56% M-o-M to 1.1 MnT in Jan’18 against 1.19 MnT in Dec’17.
Country wise:
In the month of January 2018, the largest exporter of Finish Long Steel to USA was Canada – 70,000 MT, Turkey – 60,000 MT & Mexico at 50,000 MT.
During 2017 (Jan-Dec) the major Finish Long steel exporters are Turkey 0.94 MnT (19.39%), Canada 0.85 MnT (17.59%), Mexico 0.58 MnT (11.96%), Brazil 0.27 MnT (5.64%) & Germany 0.26 MnT (5.30%).
Key Updates
1. The reference index price for US origin HMS (80:20) scrap stood at USD 376/MT, CFR Turkey, prices increased by USD 5-7/MT W-o-W.
2. Semi Finished (Pig Iron) imports enlarged to 58% M-o-M to 0.49 MnT in Jan’18 against 0.31 MnT in Dec’17.
3. On 7 March 2018, the U.S. government announced steep import tariffs of 25% on steel imports from all the countries across the globe exempting only Canada and Mexico indefinitely under NAFTA (North American Free Trade Agreement).
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