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
Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]
ArcelorMittal Dofasco increases spot sheet prices
ArcelorMittal Dofasco is raising spot sheet prices by CA$100 per ton (US$70/ton). The Hamilton, Ontario-based flat rolled steelmaker told customers the increase is effective immediately for all new orders. It did not specify to what level this brings its base prices but noted its right to re-quote previous but unconfirmed orders. “We will continue to […]
Nucor raises HR spot price to $775/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $775 per short ton (st) on Monday, Feb. 3. The $15/st week-on-week (w/w) rise marks the first back-to-back increases in the steelmaker’s weekly CSP since last August, according to SMU’s mill price announcement calendar. Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also up […]