Prices
May 13, 2014
May Steel Import License Data
Written by Brett Linton
The U.S. Department of Commerce released their latest imported steel license data for the month of May 2014. The early indication is for May steel imports to remain at, or above the projected April imports of 3.7 million tons. March final imports came in at 3.2 million which is also our 3 month moving average.
The actual projection based on the first 13 days of data for the month of May comes to 4.5 million net tons. However, we are finding the first couple of weeks of the month tend to be over-stated by the time the month comes to a final resolution. Last month (April) the second week of the month the license data suggested the month would be 3.8 million tons. Preliminary census numbers for April won’t be available for a couple of weeks and the number could move lower from the 3.7 million ton level we are seeing right now.
