Nerds of Steel

US long products imports remained low at about 270,000 short tons in July, as reported by SIMA import licenses. May and June imports were similarly low (242,000 tons and 269,000 tons respectively) compared to peak 2008 levels of 440,000 tons in April. The April peak was due to rebar and wire rod imports that were about double levels in March, May, June and July.

US long products import licenses declined from a peak of 462,000 short tons in April to 238,000 short tons in May. About 65% of this decline is due to Turkey, which did not apply for any rebar or wire rod import licenses in May (nor did it in March). In comparison, Turkey’s rebar licenses were 105,000 short tons in April while wire rod licenses were about 39,000 short tons.

Licenses for long products imports into the US increased from 257,000 short tons in March to 462,000 short tons in April, reaching their highest levels since July 2007. Rebar licenses increased from 77,000 tons in March to 189,000 tons in April, mainly due to Turkey, which didn’t apply for any licenses in March but applied for about 95,000 tons in April. Wire rod licenses increased from 78,000 tons in March to 159,000 tons in April; about 35,000 tons due to an increase in licenses from Turkey and the remainder from other countries such as Germany and Brazil. The spreadsheet below will be updated with March actuals as soon as they are available.

US long products imports will continue to decline in March. Long products import licenses continued their decline to 257,000 short tons in March, compared to February import actuals of 330,000 tons and January actuals of 385,000 tons. Rebar licenses led this decline with March import licenses at 77,000 tons compared to February actuals of 119,000 tons. Parallel Flange Sections imports appear to be returning to lower levels achieved in early 2007 with March licenses at 27,000 tons compared to February’s actuals of 69,000 tons.

US imports actuals for January were 86% higher than December imports reaching 385,000 short tons, confirming the high level of January imports predicted by license applications. February licenses which are usually updated each Tuesday have not yet been reported. The spreadsheet below will be updated as soon as the new figures arrive.

EditGrid Spreadsheet by user/nerdsofsteel.