Based on reported import licenses, US flat products imports rose 3% from 921,000 short tons in January to 952,000 tons in February. February flat products imports in 2013 were 674,000 tons, in 2012 720,000 tons, in 2011 440,000 tons, and in 2010 444,000 tons.
The 3% increase was mainly due to higher cut plate imports from a number of countries including Germany, France, South Africa, and Italy. Hot roll, cold roll, and hot dip galvanized imports fell by between 1 and 3% compared to January.
I will update the chart below to show mid-March license data when the numbers are published next week. To download all the data, just click on the Excel icon at the bottom right of the chart.
SIMA US Import Licenses and Actuals, Flat Products
short tons
*October 2013 licenses incomplete due to US government shutdown
China crude steel production was 61.6 million metric tonnes in January, 3% lower than in January 2013. January was the 4th month in a row of lower average daily production, having dropped 3.7% in October, 3.3% in November, 0.9% in December, and a further 1.3% in January to reach an average 1.99 million tonnes of production per day.
In addition, Chinese net finished steel exports in January were 5.42 million tonnes, 42% higher than in January 2013. Net exports as a share of crude steel production in China reached 9%, the highest level since we started posting results in January 2012 and 3% higher than the average of the last 2 years.
China Monthly Crude Steel Production January 2004 to January 2014
(thousand metric tonnes)
Worldsteel published January’s global crude steel production on February 20th. World crude steel production was 129.8 million metric tonnes, 0.4% lower than in January 2013 and 0.5% higher than in December 2013.
China’s production accounted for 47% of total world production in January and showed a 3.2% decline between January 2013 and January 2014 and a 1.2% decline month-on-month from December 2013 to January 2014. However, other Asian countries showed increases compared to January 2013 including a 6% rise in Japan, a 2% rise in South Korea, and a 4% rise in Taiwan.
Other significant changes include a 7% increase in European Union production between January 2013 and January 2014 due mainly to Italy and the UK. In North America, US and Mexican production January-on-January were flat and Canadian production fell 4%.
All the data for January 2014 and for a number of prior years can be viewed in the Nerds spreadsheet below.
Based on reported import licenses, US flat products imports rose 48% from 738,000 short tons in December to 988,000 tons in January. January flat products imports in 2013 were 666,000 tons, in 2012 705,000 tons, in 2011 534,000 tons and in 2010 440,000 tons.
The rise in January imports compared to December was mainly due to higher hot roll and hot dip galvanized imports, both rising by about 40%. Hot roll imports rose mainly from Russia, the Netherlands, Canada, and Japan, while hot dip galvanized imports rose significantly from Canada and China.
I will update the chart below to show mid-February licenses levels when the data is updated next week.
SIMA US Import Licenses Flat Products
short tons
*October 2013 licenses incomplete due to US government shutdown
Earnings for the final quarter of 2013 are being released. So far four companies we track in the Nerds of Steel Earnings Spreadsheet have reported. See links to their press releases below.
Three of the four companies saw a marginal improvement in Q4 EBITDA per ton over Q3. US Steel’s EBITDA per ton fell slightly in Q4. For the full year 2014 AK, Nucor, and Steel Dynamics generated similar levels of EBITDA per ton – in the range of $65-$70. US Steel’s 2014 full year EBITDA per ton came in at $39. More results should be released soon.
China crude steel production was 62.4 million metric tonnes in December, 8% higher than in December 2012. Full-year 2013 crude production reached another record at 774.5 million tonnes, 9% higher than full-year 2012 output.
December was the third month in a row of lower average daily production, having dropped 4% in October, 3% in November, and finally almost 1% in December to 2.01 million tonnes per day.
In addition, Chinese net finished steel exports in December were 4.16 million tonnes, 9% higher than in December 2012. Full-year 2013 net finished steel exports were 48.27 million tonnes, 15% higher than net finished exports in 2012.
Just click on the Excel icon under the chart below on the right-hand side to download all the data.
China Monthly Crude Steel Production 2003 to 2013
(thousand metric tonnes)
