USA Finish Long Steel Imports Increase in Nov'18

USA- World's 4th largest steel producer registered rise in long steel imports by 23% in Nov'18 on M-o-M and stood at 0.27 MnT while its unaltered on Y-o-Y basis, SteelMint learned from recently released custom data.

Further during Jan-Nov'18, USA has imported about 3.46 MnT finish long steel, down by 24% as compared to same time frame last year at 4.57 MnT.

In Jan-Nov'18, Canada continued to remain as the largest exporter to USA, contributed around 18.65% (0.65 MnT), followed by second largest - Mexico 13.89% (0.48 MnT) & Turkey 10.83% (0.37 MnT).

Exports

-- In terms of exports, USA finish long steel exports recorded steep fall by 46% Y-o-Y in Nov'18 and stood at 0.07 MnT. While it remain unchanged M-o-M as against Oct'18.

-- During Jan-Nov'18, USA has exported about 1.16 MnT finish long steel down by 8% as against same period of 2017 and stood at around 1.26 MnT.

Updates

-- USA crude steel output stood at 86.69 MnT in CY'18 up by 6.22% against 81.61 MnT in CY'17. Whereas the same inched up by 2% to 7.56 MnT in Dec'18 against 7.39 MnT in the previous month.

--JSW Steel which recently acquired assets in USA Ohio (Acero) has started production of Hot Strip Mill (HSM) and stood at 55,438 MT in Q3FY19 and its sales volume stood at 47,339 MT. The company is gradually ramping production and expected to be during FY20.

According to SteelMint's recent price assessment, USA origin shredded scrap in containers inched up to around USD 340/MT, CFR India as against USD 330/MT towards closing last week.