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Steel imports poised to decline 17% in Nov.

Dec 04, 2013 | 05:15 PM |

Tags  steel imports, hot-rolled, oil country tubular goods, OCTG, hot-dipped galvanized sheet, Commerce Department, Enforcement and Compliance, Catherine Ngai

NEW YORK — U.S. steel imports look poised to fall in November, with semifinished material, oil country tubular goods (OCTG) and coated sheet all recording declines.

Steel import license applications totaled nearly 2.34 million tonnes last month, down 17 percent from an October import figure of more than 2.81 million tonnes, according to the U.S. Commerce Department’s Enforcement and Compliance division.

Imports of semifinished material fell 31.9 percent to 500,903 tonnes on declines from Russia (down 35.3 percent) and Brazil (off 43.6 percent).

OCTG imports slid 26.6 percent to 264,126 tonnes due to decreases from Korea (down 35.2 percent) and India (off 82.1 percent); hot-dipped galvanized sheet and strip fell 42.2 percent to 125,373 tonnes due to a 75.4-percent decline from India; and imports of cold-rolled sheet fell 13.7 percent to 110,944 tonnes as Korean imports slid 67.6 percent.

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What impact would the Trump administration’s proposed tax reform have on the metals markets?

It would lift sentiment and improve demand and prices
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