USA Finish Long Steel Imports Fall in Q3 CY'18 On Imposition of Trade Tariffs
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USA- World's 4th largest steel producer registered drop in long steel imports in Q3CY'18 on Y-o-Y and Q-o-Q basis, SteelMint learned from recently released custom data.
USA Finish long Steel imports was recorded at 0.93 MnT in Q3 CY'18, less by 16% as against 0.11 MnT previous quarter. Also, import has slump by 21% as against same quarter of the previous year at 1.17 MnT, as per data maintained with SteelMint.
On monthly basis, USA imported about 0.24 MnT finish long steel in Sep'18 as against 0.35 MnT in Aug'18, significantly fall by 31% M-o-M and 31% on Y-o-Y as well.
Under Section 232, 25% tariffs on US steel imports were applied against most countries in late March and against shipments from Canada, Mexico and the European Union on June 1. Brazil, Argentina, South Korea and Australia were granted exemptions from the duties, with shipments from Brazil, Argentina and South Korea subject to annual quotas that restrict quarterly volumes to one-fourth of their respective yearly totals.
Further during Jan-Sep'18, USA has imported about 2.97 MnT finish long steel, down by 25% as compared to same time frame last year at 3.95 MnT.
In Jan-Sep'18, Canada stood as the largest exporter to USA, contributed around 18.62% (0.55 MnT), followed by second largest - Mexico 13.47% (0.40 MnT) & Turkey 12.44% (0.37 MnT).
Exports
-- In terms of exports, USA finish long steel exports recorded steep fall by 46% M-o-M in Sep'18 and stood at 0.07 MnT. While it dip by 13% M-o-M as against Sep'17.
-- During Jan-Sep'18, USA has exported about 1.02 MnT finish long steel marginally surge by 3% as against same period of 2017 and stood at around 0.99 MnT.
Updates
-- USA crude steel output stood at 64.17 MnT in Jan-Sep'18 ,higher by 5% against 61.38 MnT in Jan-Sep'17. However on monthly premise nation's crude steel output stood at 7.25 MnT in Sep'18, up by 3% against 7.47 MnT in previous month.
-- Monthly ferrous scrap exports from USA moved down by 17.87% M-o-M and stood at 1,258,913 MT in Sept'18, which was recorded at 1,532,817 MT in Aug'18.
According to SteelMint's recent price assessment, USA origin HMS 1&2 (80:20) scrap inched down to around USD 337-338/MT, CFR Turkey as against USD 339-340/MT towards closing last week.
