Beam licenses thus far in May total 29,142 tons, down 52.7% from last year’s 61,579 tons. Year to date (YTD), there have been a total of 194,775 tons of Beam license requests, down 53,312 tons or -21.5% from YTD 2016.

beams-fig1Figure 1 shows total Beam licenses through May for both 2016 and 2017 as well as the average unit value (AUV), as reported by the Steel Import Monitoring System (SIMA). Prices as depicted by the light-blue line have been relatively flat other than the questionable spike to >$1,100 per ton in February.

Figure 2 charts the YTD total by country for 2016 and 2017. South Korea’s license requests through May total 47,230 tons down 13,958 tons YTD y/y. South Korea’s May month to date license requests stood at 14,367, up 3,975 month on month (m/m) and 52.0% higher than the YTD average of 9,446 tons. Luxembourg’s license requests YTD were 53,990, up 7,994 tons YTD y/y. So far in May Luxembourg’s license total 14,367 tons, up 3,975 tons m/m and 3,569 tons more than its 10,798 ton per month average YTD. Spain was the next largest exporter with 29,480 tons YTD, off sharply from YTD 2016 level of 51,078 tons. May license requests total 5,733 tons down from February’s 11,600 tons, but close to its YTD average of 5,896 tons. Mexico has a YTD total of 8,839 tons of licenses, down 54.9% from its 19,609 tons in 2016. May’s requests stood at 795 tons down significantly from February’s 1,582 tons and its YTD average of 1,768 tons.beams-fig2

So far in 2017 Russia has only licensed 177 tons compared to 24,115 tons for the first five months of 2016. The United Kingdom YTD licenses total was 13,611 tons, up 46.1% y/y, February’s 10,606 tons accounted for 77.9% of the total. May’s license request thus far was for 2,853 tons. Taiwan’s YTD total was 9,390 tons up slightly (2%), from last year’s 9,204 tons. Taiwan license requests are sporadic, requesting 5,147 tons in January, zero tons in February and March, 4,195 tons in April and 48 tons in May. Canada’s total license requests for YTD were 8,793 tons, up 376 tons YTD y/y. May license requests from Canada are currently 2,384 tons, up slightly from February’s 2,216 tons but much higher than its 1,759 ton average YTD. The United Arab Emirates YTD license total was 8,447 tons, up 4.6% y/y. The United Arab Emirates have not asked for any licenses since March. Germany’s YTD stands at 10,405 tons, up 95% from its 2016 YTD total of 5,325 tons. March’s licenses were for 6,859 tons much greater than its 2,081 ton monthly average. May requests were for just 295 tons.

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