United States Steel Exports: July'19
...
United States, one of the major steel producers in the world, witnessed a fall in exports of ferrous scrap and finished flat while exports of Coal, Iron ore & finished flat steel witnessed an increase.
The country has witnessed crude steel production increased by 31% to 7.51 MnT in July'19 as compared to 7.28 MnT production reported in June'19. On a yearly basis, the volume was recorded at 7.28 MnT during the same period in 2018, according to the World Steel Association.
Ferrous Scrap: The country has observed a slight fall in ferrous scrap exports in July'19 which stood at 1.57 MnT in July'19 as compared to 1.73 MnT scrap exported a month ago, decreasing by 9% M-o-M. On a yearly basis, exports have increased by 15% Y-o-Y from 1.37 MnT reported during the same period a year ago.
Country-wise: Turkey remained the largest importer of ferrous scrap from United
States in July'19 with 16% share in total scrap exports by US. The country imported 0.33 MnT scrap, down by 15% M-o-M as against 0.39 MnT scrap reported in June'19. Canada stood in the second position with 0.21 MnT imported in July'19 up by 17% as against 0.18 MnT in June'19, occupying 10 % of the share. Followed by the other prominent importers Taiwan (0.13 MnT) & Mexico (0.09 MnT) with 13% & 12% market share respectively in July'19.
Iron Ore: United States iron ore exports picked up for the month of July'19 to 1.45 MnT, up 8% as against 1.34 MnT in June'19. The rise is attributed to supply crunch in global market caused due to Vale dam burst and Australian cyclone Veronica. On yearly basis, exports dropped 5% as compared to 1.53 MnT in July'18.
Country-wise: Canada continued to be largest importer for the month at 1.01 MnT, up slightly as against 0.97 MnT in June'19. Japan stood second largest importer at 0.43 MnT, followed by Spain at 0.01 MnT.
Coal: US coal exports have continued the downtrend seen on a monthly basis, to post its lowest total for the CY19 during July. Data provided by US census indicates that coal exported by the country decreased 9% M-o-M to 9 MnT in Jul'19 compared with 9.92 MnT in Jun'19. Coal volumes had also extended its y-o-y fall for the sixth straight month, as exports were marked 27% lower on the year from 12.25 MnT in Jul'18. US coal demand has been dampened by stiffer competition from an oversupplied global market wherein higher exports from Indonesia coupled with a pullback in supplies from Australia. Besides, the continuous decline in coal prices has envisaged miners to re-consider their production plans.
US energy planer EIA has highlighted in its short-term outlook report that coal production would fall by 15% on the year to 328 million short tons (MMst) during the second half of 2019. Regarding coal exports, it was suggested that volumes would continue to fall amid high Atlantic freight costs in the near term and increased uncertainty in the metallurgical coal market in the longer term.
Country-wise: Japan remained the largest receiver of US coal, despite witnessing a 16% decline in monthly coal receipt. The country had imported 0.92 MnT coal in Jul'19 as against 1.09 MnT in Jun'19, which was also 12% lower on the year from 1.04 MnT in Jul'18. South Korea emerged as the second-largest importer during the month with receipt of 0.89 MnT coal. Korean imports rose 68% on the month from 0.53 MnT in Jun'19. US coal taken by India dropped 19% M-o-M to 0.84 MnT in Jul'19, falling to its lowest volume since Jan'17.
Finished Long: The country's finish long exports increased by 14% M-o-M. Finished long exports recorded at 0.08 MnT in July'19 as compared to 0.07 MnT registered in June'19. However, on a yearly basis, similar quantity recorded at 0.08 MnT in July'18.
County-wise: Canada remained the largest importer of finished long from United States as it imported 0.05 MnT in July'19 against unchanged volume in June'19. Another prominent importer Mexico which imported 0.02 MnT in July'19 as against similar quantity imported in June'19.
Other importers like Dominican Republic, Bahamas & South Korea reported nil volume to United States.
Finish Flat: USA finish flat exports declined by 13% in Jul'19 and accounted for 0.08 MnT as against 0.07 MnT in the preceding month. However, the same remained stable on a yearly premise. During first seven months (Jan-Jul) CY'19 nation's finish flat exports were slashed by 46% to 0.47 MnT in comparison with 0.87 MnT in a similar time frame of CY'18.
Country-wise: In Jul'19 USA's exports of finish flat accounted for 0.05 MnT to Canada while 0.02 was exported to Mexico. However, exports to both nations remained stable on a monthly basis.
