Based on reported import licenses, US flat products imports rose 13% from 877,000 short tons in May to 988,000 tons in June. Flat products imports in June 2015 were 1,076,000 tons and in June 2014 they were 1,160,000 tons. Imports of flat products for the first seven months of 2016 were 27% lower than in the same period last year.
The rise in flats imports between May and June was driven by higher imports of cold roll and hot roll products. Cold rolled imports increased from countries such as Vietnam, Korea, and Turkey, while hot rolled imports rose from mainly from Korea.
I will update the chart below to show mid-July licenses when the data is updated the week of July 18th.
SIMA US import licenses and actuals, flat products
January 2014 to June 2016
short tons
Worldsteel reported Chinese crude steel production at 70.5 million metric tonnes in May, 1.8% higher than in May 2015. Output in the first five months of 2016 was 1.1% lower than in the first five months of last year due to low output in January and February 2016.
China’s net finished steel exports (exports minus imports) in May were 8.3 million tonnes, 2.3% higher than in May 2015. The first five months of 2016 recorded net exports 7.2% higher than in the same period last year.
China monthly crude steel production
January 2005 to May 2016
thousand metric tonnes
Worldsteel published May’s world crude steel production on June 21st. World crude steel output was 139.2 million metric tonnes, 0.1% lower than in May 2015. World crude production for the first five months of 2016 was 2.1% lower than in the same period last year.
China accounted for 51% of world production in May with output of 70.5 million tonnes, up 1.8% compared to May 2015. Also in Asia, Indian output rose 4.9% over the same period and South Korean output fell 3.5%. In the Americas, Brazilian production fell 13.2% while US output fell 0.4%. And in the European Union, crude output fell 5.5% between May 2015 and May 2016, due to significant declines in the UK (37.1%), France (18.8%), and Spain (10.6%).
All the data for May 2016 and for a number of prior years can be found in the Nerds spreadsheet below.
Based on reported import licenses, US long products imports rose 24% from 368,000 short tons in April to 457,000 tons in May. Long products imports in May 2015 were 362,000 tons and in May 2014 they were 422,000 tons. Longs imports for the first five months of 2016 were 6% lower than in the same period last year.
The increase in longs imports between April and May was mainly due to higher rebar and parallel flange sections imports. Rebar volumes increased significantly from Turkey and parallel flange sections imports rose from Korea, Luxembourg and the United Kingdom.
I will update the chart below to show mid-June licenses when the figures are published later this week.
SIMA US long products import licenses and import actuals
2012 to 2016
short tons
Based on reported import licenses, US flat products imports were unchanged month-on-month at 841,000 short tons in April and in May. Flat products imports in May 2015 were 1,160,000 tons and in May 2014 they were 1,087,000 tons. Imports of flat products for the first five months of 2016 were 31% lower than in the same period last year, with hot rolled showing the strongest decline at 36%.
SIMA US import licenses and actuals, flat products
January 2013 to May 2016
short tons
Worldsteel reported Chinese crude steel production at 69.4M tonnes in April, 0.5% higher than in April 2015. The average daily production rate this April was the second highest ever achieved for China at 2.314M tonnes, just after the June 2014 rate of 2.317M tonnes. Output in the first four months of 2016 was 1.9% lower than in the first four months of last year.
China’s net finished steel exports (exports minus imports) in April were 8.0 million tonnes, 8.7% higher than in April 2015. The first four months of 2016 recorded net exports 8.6% higher than in the same period of 2015.
China monthly crude steel production
January 2005 to April 2016
thousand metric tonnes
