USA Finish Long Steel Imports Increase 3% in August

USA- world's 4th largest steel producer has recorded marginal rise in its monthly finish long steel imports on rising exports from Turkey.

As per custom data maintained by SteelMint, USA has imported about 0.35 MnT finish long steel in Aug'18 as against 0.34 MnT in Jul'18, marginally up by 3% M-o-M.

Turkey's Finish long steel exports to USA increased sharply to 0.06 MnT in Aug'18 as against 0.01 MnT in Jul'18. However, exports from the Canada stands firm M-o-M in Aug'18 at 0.05 MnT.

Further during Jan-Aug'18, USA has imported about 2.74 MnT finish long steel, significant fall by 24% as compared to same time frame last year at 3.6 MnT.

In Jan-Aug'18, Canada stood as the largest exporter to USA, contributed around 18.63% (0.51 MnT), followed by second largest - Mexico 13.42% (0.37 MnT) & Turkey 12.37% (0.34 MnT).

Exports:

-- In terms of exports, USA finished long steel exports have significantly fallen by 38% Y-o-Y in Aug'18 and stood at 0.08 MnT. While it remained flat on M-o-M basis as against Jul'18.

-- During Jan-Aug'18, USA has exported about 0.95 MnT finish long steel surge by 10% as against same period of 2017. In CY17, the country's export was around 0.86 MnT.

Updates

-- USA crude steel output moved up slightly by 1% M-o-M in Aug'18 to 7.46 MnT as compared to 7.38 MnT in Jul'18. However on yearly basis the same increase by 5% in Aug' 18 against 7.099 MnT in same month of previous year.

-- Monthly Ferrous scrap export of the USA was down by 1.9% and stood at 1.20 MnT in Aug'18, which was about 1.22 MnT in Jul'18.

According to SteelMint's price assessment, USA origin HMS (80:20) scrap inched down to around USD 329-330/MT, CFR Turkey as against USD 330-332/MT towards closing last week.