Worldsteel reported crude steel production in China at 84.3 million metric tonnes in January, 7.2% higher than in January 2019. In addition, data from the General Administration of Customs show China’s net finished steel exports (exports minus imports) in January and February at 5.8 million tonnes, 34% lower than in January and February last year.
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Based on reported import licenses, US flat products imports dropped 12% from 622,000 short tons in February 2019 to 545,000 tons in February this year. The decline was mainly due to lower cold rolled imports from Australia, Mexico and Vietnam, as well as lower cut plate imports from Ukraine, South Korea and Bulgaria.
Based on January imports and February import licenses, flat products imports so far this year were 17% lower than in the same period last year with the largest import volume decline coming from hot roll and cut plate.
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Worldsteel published January’s world crude steel production on Tuesday. World steel output was 154.4 million metric tonnes, 2.1% higher than in January 2019.
China accounted for 55% of world output in January with production of 84.3 million tonnes, 7.2% higher than in January 2019. Asian output outside of China fell 4.2% following declines in South Korea (-8.0%), India (-3.2%), Taiwan (-14.6%), and Vietnam (-12.4%). European Union production (including UK for now) fell 12.0% due to lower production from Germany (-17.7%), Spain (-34.0%), and Poland (-24.2%).
In the Americas, US output rose 2.5%, Mexican production fell 15.9%, Canadian production fell 6.5%, and Brazilian output declined 11.1%. Other significant production changes around the world include increases in Turkey (+17.3%) and Iran (+46.9%), and a decline in Russia (-4.1%).
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Based on reported import licenses, US long products imports fell 25% from 367,000 short tons in January 2019 to 276,000 tons in January 2020. The decline was mainly due to lower wire rod imports from Germany, Brazil, Egypt and Greece.
Compared to December 2019 imports of 154,000 tons, January 2020 import licenses rose 79% to 276,000 tons, due mainly to higher rebar licenses from Turkey and Portugal.
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Based on reported import licenses, US flat products imports fell 29% from 839,000 short tons in January 2019 to 598,000 tons in January 2020. The decline was mainly due to lower hot rolled imports from South Korea, Mexico, and Germany. Imports of all flat products categories fell year-on-year.
Comparing December 2019 to January 2020, flat products imports were flat, with a rise in hot dip galvanized imports from Canada, Brazil and South Korea offsetting import declines in hot roll, cut plate and cold roll.
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Worldsteel reported crude steel production in China at at 84.3 million metric tonnes in December, 11.6% higher than in December 2018. Full-year output in 2019 was 996.3 million tonnes, 8.3% higher than it was in 2018.
In addition, data from the General Administration of Customs show Chinese net finished steel exports (exports minus imports) in December were 3.2 million tonnes, 29.6% lower than in December 2018. 2019 full-year net exports were 7.8% lower than in 2018.
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