Foreign Steel Imports Continue Breakneck Pace

“Despite the numerous trade cases, imports of HRC and CR keep on going up. Attached is a summary of the U.S. import statistics for carbon flat rolled steel products for June 2017: “HRC: HR sheets + HR plates in coils increased 25% M-O-M.  The AD/CV duties for imports from Russia, Korea, Japan, Australia, Japan are not enough of a deterrent. In addition, newcomers such as Italy, Serbia and Egypt are now shipping large quantities of HRC to the U.S.

“Average import prices from Egypt, Turkey, Italy and Serbia are:   $530 to $540/mt CFR Port of entry. 

“CRC: Jumped 41% M-O-M.  Russia and Turkey were the largest exporters to the U.S. with 36,000 metric tons and 49,000 metric tons, respectively.

“Lowest import prices were from Turkey $637/mt CFR and Vietnam $631/mt CFR.

“HDG: No significant changes.”

SMU is seeing OCTG (oil country tubular goods) surging to almost double the products’ 12-month moving average during the month of June and on pace to exceed June’s numbers in July.

Each of the following products are trending well above their 12-month moving averages: hot rolled, cold rolled, galvanized, Galvalume/aluminized and cut plate.