Based on reported import licenses, US flat products imports declined 20% from 830,000 short tons in July to 667,000 tons in August. In comparison, flat products imports in August 2010 were 468,000 tons and in August 2009 they were 353,000 tons.
The decline was driven by a 129,000 ton drop in hot roll imports which was largely due to lower imports from Australia and Korea. In addition, hot dip galvanized imports dropped by 32,000 tons and cold roll imports dropped by 21,000 tons. Cut plate imports, however, rose by 20,000 tons due to a rise from a number of countries including Russia, Mexico, Malaysia, the Ukraine and Brazil.
I will update the spreadsheet below when the next licenses are reported in order to show mid-September license data.
worldsteel published July 2011’s world crude steel production on Monday. Monthly production declined by 0.7% between June and July and daily production declined by 3.9%. Countries which contributed to the monthly decline included China, down 632,000 tonnes over June, Spain, down 523,000 tonnes, and Germany, down 214,000 tonnes. In contrast, production grew significantly in Japan, USA, India, and Russia, each by about 200,000 tonnes.
As usual, all the data for July 2011 (and for a number of prior years) is in the Nerds spreadsheet below.
Based on reported import licenses, US long products imports declined 31% from 267,000 short tons in June to 184,000 tons in July. This can be compared to July long products imports of 232,000 tons in 2010, 104,000 tons in 2009, 270,000 tons in 2008, and 563,000 tons in 2007.
The drop was driven by lower wire rod, rebar, and beam imports. Wire rod imports dropped 34,000 tons and rebar imports dropped 28,000 tons, for both products the decline due to lower imports from Turkey. Beams imports decreased 14,000 tons due to lower volumes from Korea, Taiwan, and Luxembourg.
August licenses reported up to August 16th were 106,000 tons which is likely to mean that full-month August imports will be very close to July levels.
Based on reported import licenses and in comparison to preliminary June census data, US flat products imports increased 13% from 706,000 short tons in June to 798,000 tons in July. This can be compared to flat products imports of 600,000 tons in July 2010 and 291,000 tons in July 2009.
The rise was driven by a 75,000 ton increase in hot roll imports due to heavier volumes from Australia and S. Korea. Imports of all other flat products categories increased by between 3 and 7%.
I will update the spreadsheet below when the next licenses are reported in order to show mid-August license data.
This week Ternium and Gerdau announced Q2 earnings. See links to each company’s press release below.
As expected both companies’ results improved relative to Q1. Ternium reported EBITDA per net ton of $190, up from $164 in Q1. Again one of the better numbers achieved among companies tracked in the Nerds of Steel earnings spreadsheet. Gerdau’s EBITDA per ton rose from $123 to $147, which is right inline with the $145 average of the companies we track.
Two more companies have reported Q2 2011 financial results. See links to their respective press releases below.
ArcelorMittal’s results improved over Q1. EBITDA per ton rose to $139 from $106. AHMSA, which is new to the Nerds of Steel earnings spreadsheet, also reported improved results. EBITDA per ton rose from $158 to $221, a strong showing which put them on the same level as POSCO, a perennial profit leader among the companies we track.
As a side note, we will no longer track the results of California Steel. After paying off its outstanding public debt, CSI is no longer required to report quarterly results.
