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How did the US steel market close last week?

The US steel market has been fluctuating this week. While product-based price changes took place, the volatility in imports and exports did not go ignored...

How did the US steel market close last week?

US steel imports decreased

According to the US Department of Commerce, the US imported 9.4% less steel than in March and 13.3% less steel than in April of the previous year. Total imports fell to 2,150,544 tons.

Brazil's rebar exports and imports decrease in April

Brazilian steelmakers have been unable to increase prices due to weak demand and a highly competitive market. According to data from the Brazilian Ministry of Development, Industry and Foreign Trade (MDIC), in April this year, Brazilian rebar exports amounted to around 2,500 tons, a decrease of 57.6% compared to April 2022. Of these exports, 98.8% went to Bolivia, Paraguay and Peru.

US announces countervailing duty decision on Turkish rebar

US announces countervailing duty decision on Turkish rebar. According to the final results of the countervailing duty (CVD) administrative review, certain Turkish rebar producers and exporters received countervailable subsidies during the review period from January 1, 2020 to December 31, 2020.

Çolakoğlu Dış Ticaret A.Ş. received a subsidy of 0.07%, Kaptan Demir Çelik Endüstrisi ve Ticaret A.Ş. and İçdaş Çelik Enerji Tersane ve Ulaşım Sanayi A.Ş. received a subsidy of 2.15%.

US rig count decreased

The number of drilling rigs in the US decreased by 9 to 711, the number of natural gas drilling rigs decreased by 4 to 137 and the number of oil drilling rigs decreased by 5 to 570. The total number decreased by 16 units on an annual basis.

In the same period, Canada's drilling rig count increased by 2 units on a weekly basis to 87, while it decreased by 16 units on an annual basis.

US crude steel production increased on a weekly basis at the end of May

In the week ended May 27, US crude steel production was realized as 1.74 million net tons, up by 0.5% on a weekly basis and down by 1.9% on an annual basis. In this period, capacity utilization rate increased by 0.4% on a weekly basis and decreased by 3.9% on an annual basis to 77.2%.

US steel slab imports dropped

In April this year, US imports of steel slab fell by 47.2% m-o-m and 9.2% y-o-y to 222,882 tons. Imports from Brazil were 118,089 tons, Mexico 54,655 tons, Canada 41,096 tons and Japan 8,973 tons.

US imports of hot rolled coil decreased

In April this year, US imports of hot rolled coils decreased by 12.8% compared to March and by 27.8% compared to April of the previous year to 130,679 tons.

The value of imports in this period amounted to 124.2 million dollars.

Brazil's domestic flat steel sales fall in April

Fewer working days and a weaker market in April this year led to a decline in Brazil's domestic flat steel sales, according to the Brazilian National Institute of Steel Distributors (INDA). The country's domestic flat steel sales stood at 301,100 tons, down 18.7% from March and 5% year-on-year.

Brazil issues statement to support steel plate and pipe exports to Argentina

The statement highlighted ongoing negotiations to secure financing through Brazil's official development agency to facilitate the export of steel plates and pipes from Brazil to Argentina. These materials will play a vital role in the second phase of the Nestor Kirchner pipeline project.


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