September U.S. steel imports from China increased significantly

U.S. Commerce Department released data show, September 2013 U.S. imports 2.505 million tons of steel, month to month dropped by 4.1%, compared to last year growth of 6.1%. 1-9 months total steel imports 21,674,000 tons, year on year drop 7%.

From species to see, compared with last year, the growth rate of rebar is biggest, reached 155 percent, hot rolled growth of 24.4%, galvanized sheet increased by 11.9%, but the steel pipe, wire and plate has a larger decline. Compared with August, there are larger increase in rebar and plate, steel pipe, wire rod and cold volumes has larger decline. From import source countries and regions to see, compared to last year, there are larger imports growth from Central and South America, Japan, China and Turkey, and imports from the CIS and EU decreased significantly. Compared with last month, imported from Japan, China and Turkey imports increased significantly, from North America, South America, South Korea and the CIS decreased greatly. September U.S. imports 176,500 tons of steel from China, month to month growth of 76.88%, compared to last year increased by 89.4%.

The latest statistics show that until to October 25, 2013, October U.S. steel import license number is 127 million tons, which much lower than the same period value in September, U.S. steel imports is expected to significantly decrease in October.

Japan’s crude steel output of this year hit a five years record high

According to the latest forecast of the Japanese Ministry of Economy, Japan’s crude steel output of this year is expected to increase to 111 million tons, compared to last year growth of 3.1%, and hit a five-year record high. The main reason is government to increase infrastructure spending and housing construction.

Recently, the Japanese Prime Minister expressed, April of next year the consumption tax from the current 5% is raised to 8%. At the same time, increasing infrastructure spending to stimulate the central bank to take more forceful measures to end deflation. Since taking office last December, Japanese Prime Minister funding at least 10 trillion yen for infrastructure upgrades. In addition, the Japanese construction continues to increase, including the Northeast reconstruction projects after the earthquake in March 2011.

Benefited from strong demand for steel and depreciation of the yen, Japanese steel share price and profit rose, including Japan’s largest steel producer NSSC Company and JFE Steel Corporation. Since the end of last year, the Japanese yen against the U.S. dollar fell by about 20%. Depreciation of the yen not only prevented imported resources from Korea and China etc. Asian countries, while helping Japanese manufacturing regain competitiveness in export markets, causing domestic steel manufacturers work hard to increase production.

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