Steel Products Prices North America
Imports – Is This the Boom Before the Bust?
Written by John Packard
May 4, 2017
The U.S. Department of Commerce recently released Final Census Data for March 2017 foreign steel imports. The month officially came in at 3.4 million net tons. This is a huge month. What is probably worrying the steel mills is the license data for April is indicating there will be another boom month for imports as they are expecting to also come in around 3.4 million net tons.
This is the beginning of the story and not the end. Steel Market Update has been following imports for many years looking for changes in the numbers.
How about this for a change, even though March and April are coming in around 3.4 million tons, Vietnam is beginning to disappear from the market.
Galvanized – in February Vietnam shipped 22,800 net tons to the U.S. When we look at March the Vietnamese GI number dropped to 15,600 net tons. In April, it dropped again to 9,000 net tons.
Cold Rolled – in January 2017 Vietnam shipped 62,600 net tons of CRC, February = 24,500 net tons, March = 14,600 net tons and April = 131 net tons (one hundred thirty-one net tons).
Late today we got a note from a manufacturing company located in the Southern region of the United States. We were told, “Traders are cancelling some orders and getting very nervous. Some are not even offering CR or GALV for time being. Most foreign mills are shipping soon as possible and early to get material on the water….” They went on to say they had a large order cancelled that was scheduled for July shipment.
We also heard from a consulting source this morning that there is a lot of turmoil in Turkey and this source told us he would not be going back to Turkey anytime soon.
Beware the “Trump Bump” and stay close to your sources of supply. One of the steel mills who competes regularly against foreign coated steels told us earlier this week, “…On imports we had to get a bit more aggressive for late summer, but I expect ‘232 common sense’ to kick in as we get closer to June and savvy buyers will incorporate safety in their value equation.”
John Packard
Read more from John PackardLatest in Steel Products Prices North America
September Import Share of US Sheet and Plate Markets
Imported sheet and plate products arrived at US ports at a slower clip in September, accounting for a lower share of the domestic market for the third straight month. That’s according to a Steel Market Update analysis of import data from the US Commerce Department and domestic shipment figures from the American Iron and Steel […]
US Apparent Steel Supply Falls Further in September
US apparent steel supply eased further in September, down 8% from August to 8.29 million net tons, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). As the lowest monthly figure since February 2021, this was a 19-month low. September supply was 10% below the average monthly rate […]
Northwest Pipe Reports Sharply Higher Q3 Results
Engineered pipe and tube producer Northwest Pipe Co. posted sharply higher profits for the third quarter ended Sept. 30. The Vancouver, Wash.-based company said the boost was driven by strong demand and increasing backlogs from its engineered pipeline systems and precast products, according to earnings data released on Tuesday, Nov. 8 All told, Northwest Pipe posted net […]
SMU Price Ranges: Flat-Rolled Steel Falls (Yet Again)
Sheet prices fell across the board again this week as the slow grind lower that we’ve seen since last spring continued to gain speed. Hot-rolled coil prices fell $30 per ton ($1.50 per cwt) week-over-week. Declines in coated products were more pronounced, with cold rolled down $55 per ton, galvanized down $35 per ton, and […]
US Steel Exports Slip 10% in September
US steel export volumes shrunk 10% from August to September, according to the latest US Commerce Department data. 723,000 net tons of steel products exited the country during the month, now the fourth-lowest monthly export rate over the past year and a half. Recall that exports levels in August were at the third-highest monthly rate […]