Steel Products Prices North America
September Foreign Steel Imports Trending toward 3.0 Million Ton Month
Written by John Packard
September 28, 2017
As was mentioned in the previous issue of Steel Market Update, foreign steel imports for September continue to trend toward another 3.0 million net ton month based on SMU analysis of import license data. If imports come in around 3.0 million tons it would be the lowest level since February 2017 when total steel imports were 2.7 million net tons.
Here are some data points for you to consider:
In 2016 foreign steel imports averaged 2,751,789 net tons per month.
In 2016 foreign steel imports averaged 2,756,030 net tons for the first eight months of the year.
In 2017 foreign steel imports average for the first eight months is 3,315,920 net tons per month.
Compared to 2016, the first eight months of 2017 are averaging 559,890 net tons per month more foreign steel.
Looking at the 12-month moving averages we are seeing OCTG (oil country tubular goods) in September trending above the 12-month moving average. We are seeing a reduction (compared to 12MMA) in the other products referenced in the table above (with exception of Galvalume/Aluminized which are about the same).
Imagine how tight supply would be on the flat rolled mills in the U.S. if those 559,890 tons per month were being produced here in the U.S.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
HRC-galvanized price gap edges higher
The premium galvanized coil carries over hot-rolled coil (HRC) coil has marginally widened in recent months. As of Sept. 16, the spread between these two products reached a three-month high of $175 per short ton (st), though it is still low by historical standards.
SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.