US steel imports in June dip by 12.3% YoY

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jul 2008

AIIS reported that based on preliminary reporting total US steel imports in June 2008 were 2.67 million tons as compared to 2.5 million tons in May 2008 up by 6.9% MoM but down by 2.3% YoY. The data show that imported semi finished products decreased by 4.7% YoY in June 2008 as compared to June 2007. According to year to date figures, imports decreased 10.9% compared to 2007 or from 17.82 million tons in 2007 to 15.87 million tons in 2008. For the year to date period, semi finished imports decreased from 3.30 million tons in 2007 to 3.29 million tons in 2008, a 0.5% decrease. Jun'08    May'08    MoM    Jun'07    YoY
Total    2,673    2,501    6.9%    3,049    -12.3%
Canada     669    695    -3.8%    577    15.9%
EU    400    353    13.3%    516    -22.5%
China     347    289    20.1%    512    -32.2%
Mexico     260    296    -12.1%    265    -1.9%
Ukraine     199    60    232.4%    61    227.0%
Brazil     170    102    66.4%    203    -16.4%
Korea     168    202    -17.1%    193    -13.2%
Others    140    109    28.4%    184    -23.9%
Japan     126    119    5.6%    119    5.6%
Australia     66    61    8.4%    49    34.9%
Russia     54    81    -33.3%    209    -74.2%
India     46    123    -62.4%    73    -36.6%
Turkey     23    6    285.7%    75    -69.1%
South Africa     6    5    10.2%    9    -38.8%
                          

In ‘000 short tons
 
YTD'08     YTD'07     YoY    Share
Total    15,874    17,822    -10.9%     
Canada     4,275    3,369    26.9%    26.9%
EU    2,282    2,512    -9.2%    14.4%
Mexico     1,810    1,615    12.1%    11.4%
China     1,569    2,615    -40.0%    9.9%
Korea     1,123    1,093    2.7%    7.1%
Japan     853    942    -9.5%    5.4%
Brazil     752    1,328    -43.4%    4.7%
Others    709    1,654    -57.1%    4.5%
India     665    423    57.3%    4.2%
Ukraine     624    558    11.9%    3.9%
Russia     428    824    -48.1%    2.7%
Australia     380    398    -4.5%    2.4%
Turkey     358    387    -7.5%    2.3%
South Africa     46    89    -48.9%    0.3%
Indonesia     1    15    -93.3%    0.0%
In ‘000 short tons
Mr Dave Phelps president of AIIS said “Imports arrived in the US markets at a modest pace in June, as the factors limiting imports strong markets overseas, high freight rates and the weak dollar continued to impede the import side of supply.”
He said that “June arrivals kept pace with the overall average for the first half of the year, around 31 million tons to 32 million tons annualized.”
Mr Phelps added that “In the context of high prices, the domestic industries strong profitability along with more price increases announced for September for some products, recent decisions on injury under our trade laws are suspect. This is an industry that does not need protection. Trade cases against steel serve only to endanger further steel consumers’ viability. High and rising prices in the US market for some products suggest that conditions for imports could improve later in the year.”


Source: Steel Guru