Based on reported import licenses, US flat products imports fell 14% from 599,000 short tons in December 2019 to 513,000 tons last month. Cold rolled imports fell by the largest volume, declining 36% on last December due mainly to lower volumes from Mexico, Australia, Canada and Vietnam. Hot roll imports fell by the second largest volume, down 8.7% on last December.
Based on January to November imports and December import licenses, US flat products imports in 2020 were 19% lower than in 2019 with cut plate imports -41%, hot roll -20%, cold roll -25% and hot dip galvanized -10%.
Steel Import Monitor US flat products import licenses
If you are looking to chart financial data on publicly traded steel companies, this week’s dataset is for you. “World’s Largest Public Companies” contains data from Forbes including public company information back to 2010. Results can be filtered by industry (iron & steel, metals & mining, aluminum, trading companies etc.), country, and measure (assets, market value, profits and sales).
The chart below shows ArcelorMittal was the largest iron & steel company by revenue in 2019. Who ranks #1 in market value? You can build that chart and others if you sign up for a free Steel Data Room trial.
Worldsteel reported crude steel production in China at 87.7 million metric tonnes in November, 8% higher than in November 2019. Chinese production in the first eleven months of 2020 was 6% higher than in the same period last year.
Data from the General Administration of Customs show net finished steel exports (exports minus imports) in November were 2.5 million tonnes, down 28% on November 2019. Net exports in the first eleven months of 2020 were 39% lower than in the same period last year.
China monthly crude steel production
Thousand metric tonnes
“China Steel Responsibility” bulk carrier just out of the IJmuiden lock, sailing towards Amsterdam, Port of Amsterdam, The Netherlands by AlfvanBeem, CC0, via Wikimedia Commons
Worldsteel published November 2020 world crude steel production yesterday. World steel output was 158.3 million metric tonnes, 6.6% higher than in November 2019. Crude steel production in the first ten months of 2020 was 1.1% lower than in the same period last year.
China accounted for 55% of world output in November. Chinese production was 87.7 million tonnes, 8.0% higher than in November 2019. Non-China Asian output rose 9.2% on last November due to a 166.7% rise in Vietnam and despite a 5.9% drop in Japan.
European Union plus the UK output rose 5.5% on November 2019 following a 14.8% rise in Germany. In North America, US production fell 13.7%. Other significant changes compared to last November include increased output in Brazil (11.2%), Turkey (+11.6%), Ukraine (+30.8%), and Iran (+14.1%).
Based on reported import licenses, US long products imports rose 35% from 172,000 short tons in November 2019 to 232,000 tons in November this year. Licenses indicate that the increase was mainly due to higher rebar imports from Turkey, Portugal, and Spain.
Based on January to October imports and November import licenses, US long products imports in the first eleven months of 2020 were 15% lower than in the same period last year with the largest import volume declines coming from wire rod (-31%) and parallel flange sections (-39%).
US long products import licenses from ITA Steel Import Monitor
January 2014 to November 2020
Short tons
Rebar reinforcements for the stairs at the 47th Street exit from the new LIRR Concourse. (CM14B, 05-01-2019) by MTA Capital Construction Mega Projects, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
What is the world’s highest volume finished steel product trade route? The answer can be found in this week’s dataset of the week, “Global Carbon & Alloy Steel Products Imports and Exports”. The data comes from the International Steel Statistics Bureau (ISSB) and includes monthly import and export data by country from 2013 in value and quantity.
And the answer is… Japanese exports of hot rolled wide strip to Thailand. Japanese total exports of hot rolled wide strip to all countries far outmeasure exports of other single products from other countries. However, it was a close call between Japanese exports of hot rolled wide strip to Thailand or to South Korea over the last eight years. Despite Thailand’s 2020 dropoff in HR wide strip imports, volumes on average over the last eight years (2020 to September) from Japan to Thailand (2.297Mt) were higher than to South Korea (2.288Mt).
In the Steel Data Room, you can easily create charts like the one below, which shows monthly volumes of Japanese exports to Thailand (blue), together with average prices (green). Interested in taking a look? Try our free Steel Data Room trial.
