USA Steel Import Statistics in Aug’19

As per data maintained with SteelMint, imports log of USA for Aug’19 is as follows:

1. USA’s iron ore imports plunged by 37% to 4,94,939 MT in Aug’19 as against 7,82,847 MT in Jul’19. Meanwhile, on a yearly premise declined by 26% in comparison with 6,69,063 MT in Aug’18.

2. The nation’s semi-finish imports slashed by 36% to 6,26,004 MT in Aug’19 in comparison with 9,75,475 in Jul’19. Meanwhile plunged by 35% Y-o-Y as against 9,62,720 in Aug’18.

3. The nation’s ferrous scrap imports witnessed growth by 11% to 3,57,750 MT in Aug’19 over 3,22,610 MT a month ago. However, the same fell by 5% in Aug’19 as against 3,78,471 MT in Aug’18.

4. The nation’s finish long imports witnessed a fall of 7% in Aug’19 to 2,68,534 MT as against 2,88,309 MT a month ago. However, the same declined by 24% in Aug’19 over 3,53,290 MT in Aug’18.

5. The nation’s finish flat imports inched down by 2% to 11,86,607 MT in Aug’19 over 12,12,829 MT a month ago. However, on a yearly premise, the same decline by 14% in comparison with 13,75,694 MT in Aug ’18.

The US government imposed Section 232 trade tariffs @ 25%, and quotas imposed there-after led to a declining trend in the nation’s finish flat imports through CY’19 over Jan-Aug CY’18.

Meanwhile, end-users in the US have adopted a wait-and-watch mode amid bearish market sentiments as a ramp-up in production and dwindling demand made end-users cautious. These factors attributed to a decline in the nation’s imports.

6. The nation’s ferroalloy import volumes shot up to 70,898 MT in Aug’19 as compared with 40,097 MT a month ago. However, the same plunged by 37% Y-o-Y over 1,12,220 MT in Aug ’18.

7. The nation’s graphite electrode imports stood at 9,098 MT in Aug’19 spiked over 5,350 MT in Jul’19. However, on a yearly premise, it plunged by 23% in Aug’19 in comparison with 11,793 MT in the corresponding month of the previous year.

Source: SteelMint Research