USA: Flat Steel Imports Drop by 9% in Nov'18
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According to the recent customs data, USA's flat steel imports which includes 7208 (HR coils /Plates), 7209 (CR coils), 7225 (Electrical sheets), 7210/7212(GP/GC) decline by 9% M-o-M basis in Nov'18 to 0.86 MnT which was 0.94 MnT in previous month.
On yearly basis it registered a slight fall of 4% in Nov'18 against 0.9 MnT in Nov'17.
However in first eleven months of (Jan-Nov'18), country's flat steel import volumes stood at 10.26 MnT down by 7% against 11.03 MnT in during the same period in the previous year.
Drop in USA steel imports amid imposition of tariffs- The 25% tariffs on steel imports, which the Trump administration levied in March have impacted the U.S. steel industry to great extent.
The tariffs have provided the much-needed protection to American steel producers who have long struggled to cope with a tide of cheap foreign imports. The punitive tariffs appear to be bearing fruit as reflected by a decline in U.S. steel imports year to date in Nov'18.
As per market reports the tariffs have provided a thrust to U.S. steel prices as reflected by the significant increase in hot-rolled steel prices this year, giving American steel makers more pricing power. Also higher U.S. steel prices are driving the profitability of domestic steel makers. The tariffs are also boosting production capacity of domestic steel makers amid lower imports.
Commodity-Wise USA Flat Steel Imports in Nov'18
| Sub Commodity | Nov '18 | Oct '18 | M-o-M (Change in %) | Nov '17 | Y-o-Y (Change in %) |
| Galvanised Steel | 0.31 | 0.33 | -6 | 0.33 | -6 |
| HRC/Plate | 0.28 | 0.35 | -20 | 0.24 | 17 |
| CRC | 0.11 | 0.12 | -8 | 0.12 | -8 |
| Electrical Steel | 0.14 | 0.11 | 27 | 0.17 | -18 |
| Others | 0.03 | 0.04 | -25 | 0.05 | -40 |
| Grand Total | 0.86 | 0.94 | -9 | 0.9 | -4 |
Quantity in MnT
Source: SteelMint Research
Country-wise USA Flat Steel Imports in Nov'18- Canada being the major exporter stood at 0.24 MnT in Nov'18 down by 11% against 0.27 MnT in the previous month.
Secondly South Korea stood at 0.15 MnT in Nov'18 remained stable against previous month.
Followed by Mexico which stood at 0.06 in Nov'18 MnT fell by 25% against 0.08 MnT in previous month.
Other major exporters were Vietnam at 0.08 MnT, Netherland at 0.07 MnT, Germany at 0.04 MnT and Japan at 0.04 MnT in Nov'18.
