by Jeff Yoders on MAY 25, 2016
Steel imports into the U.S. were down in April and, if the numbers are able to be believed, China is importing more nickel ore than ever before.
Steel Imports Down in April
Based on preliminary Census Bureau data, the American Iron and Steel Institutereported that the U.S. imported a total of 2,456,000 net tons of steel in April 2016, including 2,014,000 nt of finished steel (down 5.6% and 4.1%, respectively, vs. March final data).
Two-Month Trial: Metal Buying Outlook
Year-to-date through four months of 2016 total and finished steel imports are 9,982,000 and 8,442,000 nt, respectively, down 34% and 33% vs. the same period in 2015.
Annualized total and finished steel imports in 2016 would be 29.9 and 25.3 million nt, down 23% and 20% respectively vs. 2015. Finished steel import market share was an estimated 24% in April and is estimated at 25% on the year-to-date.
Key finished steel products with a significant import increase in April compared to March are line pipe (up 38%), hot rolled bars (up 35%), structural pipe and tube (up 27%), standard pipe (up 17%) and cold-rolled sheets (up 15%).
Chinese Nickel Imports
China is importing more nickel than ever before. Headline imports of refined metal hit a new all-time record high of 49,012 metric tons in April. The cumulative tally of 157,600 mt over the first four months of the year represents a 115,000-mt increase over the same period of last year.
Reuters’ Andy Home writes that there is too much going on to get a good idea of what the imports really are and where they’re being used.