Based on reported import licenses, US flat steel products imports rose 38% from 709,000 short tons in February to 978,000 tons in March. Hot rolled imports increased the most compared to other product categories, with higher volumes mainly from Canada, South Korea and Turkey.
Flat products imports in the first three months of 2018 were 1% higher than in the same period last year, though a 38% increase in hot rolled imports offset a 21% decline in cold rolled imports and a 13% drop in hot dip galvanized imports.
SIMA US flat products import licenses and actuals
January 2013 to March 2018
short tons
Hot Strip Mill, Tata Steel Kalinganagar
Photo from Worldsteel Association Image Library by worldsteel_Prasenjeet Gautam, image ref. worldsteel_Tata Steel_India_Hot Rolling_2.jpg
Worldsteel reported Chinese crude steel production at 64.9 million metric tonnes in February, 5.9% higher than in February 2017. Chinese net finished steel exports (exports minus imports) in February were 3.8 million tonnes, 17.6% lower than in February last year.
China monthly crude steel production
January 2006 to February 2018, thousand metric tonnes
Photo by Prof. Chen Hualin (Own work) [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons
Worldsteel published February’s world crude steel production today. World crude steel output was 131.8 million metric tonnes, 3.5% higher than in February 2017 (and despite February having one day less in 2018).
China accounted for 49% of world output in February with production of 64.9 million tonnes, 5.9% higher than in February 2017. Outside of China, Asian production rose 0.5% with Indian output rising 3.4% but other major countries declining. European Union output fell 0.8% compared to last February, and in the CIS, Russian production fell 5.7%. In North America, US production rose 0.4% while Canadian output fell 10.4% and Mexican production fell 7.1%. Other significant crude production changes include an 8.7% increase in Turkey, and a 48.6% increase in Iran.
All the data for February 2018 and for a number of prior years can be found in the Nerds spreadsheet below.
Production process of billets at NLMK Kaluga
Photo from Worldsteel Association Image Library by worldsteel / Robert Kolykhalov, Image Ref:worldsteel_NLMK_russia_steelmaking_3.jpg
Based on reported import licenses, US long steel products imports fell 5% from 265,000 short tons in January to 252,000 tons in February. The decline was mainly due to lower rebar imports from Turkey. February longs imports fell 36% compared to February 2017, again primarily due to lower rebar imports from Turkey.
SIMA US long products import licenses and actuals
2012 to 2018
short tons
Badische Stahlwerke, Kehl, wire rod coils
Photo from Worldsteel Association Image Library by worldsteel / Gregor Schlaeger, image ref: worldsteel_BSW_Germany_Coils_3.jpg
Based on reported import licenses, US flat steel products imports fell 12% from 760,000 short tons in January to 668,000 tons in February. Flat products imports in the first two months of 2018 were 11% lower than in the same period last year. The drop in imports between January and February was mainly due to lower hot roll imports from Canada, Turkey, and Japan.
SIMA US flat products import licenses and actuals
January 2013 to February 2018
short tons
Photo by Stahl-Zentrum/ThyssenKrupp Steel Europe [CC BY-SA 3.0 de (https://creativecommons.org/licenses/by-sa/3.0/de/deed.en)], via Wikimedia Commons
BlueScope and Ternium recently released Q4 2017 financial results. North Star BlueScope reported EBITDA/ton of $118 in the second half of the year, down from $142 in the first half. Ternium reported $148 per ton for Q4 and $151 for the full year 2017. We are still awaiting results from Gerdau and AHMSA.
