Steel imports on course to rise for May
Jun 04, 2014 | 04:51 PM
| Thorsten Schier
NEW YORK U.S. steel mill product imports are set to climb to record levels in May, led by sizeable jumps in the inflow of stainless steel and oil country tubular goods (OCTG).
Import license applications topped 3.58 million tonnes in May, up 6 percent from preliminary April levels, according to license data updated June 3 by the U.S. Commerce Departments Enforcement and Compliance division. The tally is also 39.2 percent above the 2.57 million tonnes imported in May 2013.
OCTG inflows are set to jump 58.4 percent in the same comparison, driven primarily by a jump in applications from South Korea. The Asian nation is on track to more than double its deliveries to the United States in May, to 193,258 tonnes from 85,997 tonnes in April. Closer to home, intake from Mexico is on course to rise 14.2 percent to 24,737 tonnes from 21,652 tonnes, offset by a 30.9-percent drop in deliveries from Canada to 22,826 tonnes from 33,023 tonnes.....
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