Final Thoughts

July 29, 2014

We are going to hold off on doing an import analysis other than to say that the latest license data suggests July imports will be approximately the same as June. I will check the latest numbers to see if there are any huge variances compared to what we reported over the past few days. If so, we will produce the updated numbers in Thursday evening’s edition of Steel Market Update.

A comment from one executive of a service center regarding the threat of dumping suits. Essentially he stated that the threat can’t stay hanging over the industry forever. At some point in time the mills either have to file or the industry has to ignore the threat.

Chinese cold rolled exports for the month of July are trending toward a final monthly number around 60,000 net tons. This would be less than what we saw in June (84,965 net tons) and well below the peak for the past twelve months which was 105,236 net tons received during the month of April 2014.

On the other hand Chinese exports of hot dipped galvanized appear to be trending toward a July tonnage level of approximately 85,000 net tons which would be at May 2014 levels which was the 12 month high for China.

We will have Key Market Indicators out within the next couple of days for our Premium Level members (actually everyone since you are all receiving Premium Level content for the remainder of July).

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