Steel Products Prices North America

Imports of Chinese Cold Rolled Into USA Surging

December 29, 2013

According to the most recent U.S. Department of Commerce import license data, Chinese exports of cold rolled into the United States are beginning to surge. Based on license data through the 24th of December, cold rolled imports from China totaled 76,419 net tons of the 159,416 net tons requesting licenses.

Since October 2012 the previous high for cold rolled exports out of China was 44,492 net tons. At the current license pace China could well double its previous high and is almost triple its 3 month moving average of 28,602 net tons (September – November).

Total cold rolled imports are forecast to be well above the 3 month moving average with 159,416 net tons of licenses having already been requested for the month of December. The 3MMA is 124,447 net tons for the months of September – November 2013.

Besides China, the other exporter which is outside of their normal average for cold rolled shipments is India with 7,374 net tons 3.5 times higher than their 2,003 net ton 3MMA.

The five largest cold rolled exporting countries are:

China – 76,419 net tons (3MMA = 28,602 net tons).
Canada – 15,011 net tons (3MMA = 23,596 net tons).
Korea – 10,878 net tons (3MMA = 14,841 net tons).
Mexico – 10,384 net tons (3MMA = 12,435 net tons).
Sweden – 8,309 net tons (3MMA = 8,347 net tons).

Expectations are for cold rolled imports to jump further as we move into January, February and March due to the push for higher prices by the domestic mills coupled with the weak prices overseas which attracts imports.

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