Based on reported import licenses, US flat products imports rose 17% from 555,000 short tons in February 2020 to 647,000 tons last month.
The highest volume increase came from hot roll where import volumes were up from Japan, South Korea, and Turkey. Cold rolled imports also rose significantly due to higher volumes from Australia, the UK, and Germany.
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Did you know that Australian quarterly iron ore exports hit a historical peak of 225 million metric tonnes in Q2 2020 and that 191 million tonnes were exported to China? This and a whole lot more can be found in the Steel Data Room’s featured dataset, “Met Coal and Iron Ore Consumption, Trade, and Prices” with data from the Australian Government’s Department of Industry.
This dataset has world production, consumption, imports, and exports of metallurgical coal and iron ore, as well as more detailed information on Australian production and exports of coal and iron ore by quality and by major destination country.
In the chart below, you can see quarterly Australian exports of iron ore from Q1 2010 to Q3 2020, highlighting the increasing dominance of China compared to Japan and South Korea. This chart gets automatically updated with Q3 data when the Australian Government circulates it’s newest publication on March 23rd, another advantage of creating charts in the Steel Data Room.
Interested? Try a free Steel Data Room trial.
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Worldsteel published January 2021 world crude steel production yesterday. World steel output was 162.9 million metric tonnes, 4.8% higher than in January 2020.
China produced 90.2 million tonnes in January, accounting for 55% of world output and rising 6.8% on January 2020. In other parts of Asia, Indian output rose 7.6% on last January and South Korean production rose 4.9%.
European Union production fell 0.4%, though output by its largest producer, Germany, rose 6.0%. However, figures from the Italian steel association Federacciai show production by the EU’s second largest producer rose only 0.9% year-on-year.
North American production fell 7.0% following a 9.9% drop in the United States and CIS output rose 4.5% following a 6.5% increase in Russia. Other important changes on last January include increased production in Turkey (+12.7%) and Iran (+10.2%).
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According to Worldsteel, construction accounts for about 50% of steel demand worldwide. While this figure differs by region, those of us who follow steel demand are keenly interested in the performance of the construction sector.
Construction is the focus of this week’s Steel Data Room dataset of the week, “US Census Bureau Construction Spending”. In this dataset, you can find everything the Census Bureau publishes on construction spending in the US, monthly and annually, seasonally adjusted or not, from total overall spending to detailed spending on specific types of structures such as bridges or residential new single-family homes.
If steel demand drivers are important to you, why not try a free Steel Data Room trial. You can easily create charts like the one below, which highlights the strong performance of US residential construction compared to non-residential construction in 2020.
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Based on reported import licenses, US long products imports dropped 10% from 266,000 short tons in January 2020 to 240,000 tons in January this year. Licenses indicate that the decline was mainly due to lower wire rod imports from Brazil and lower rebar imports from Spain. Parallel flange sections imports rose, however, with higher volumes from the United Arab Emirates.
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Based on reported import licenses, US flat products imports fell 22% from 669,000 short tons in January 2020 to 523,000 tonnes last month.
Hot dip galvanized imports fell by the highest volume, dropping 31% due to lower imports from Brazil, Austria, South Korea and Canada. Cold rolled imports also fell significantly, declining 44% due mainly to lower imports from Australia, South Korea and Mexico.
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