Wire Rod licenses for the month of August through the 21st, totaled 70,008 tons, plummeting 63.5% from its May, June and July licensed volume of 191,500 tons. On a year to date (YTD), y/y basis licensed import volume was 1,318,808 tons, up 2.7% over the 1,284,126 tons YTD 2016.
Figure 1 shows total Wire Rod licenses through August for both 2016 and 2017 as reported by the Steel Import Monitoring System (SIMA).
Figure 2 charts the YTD total by country for 2016 and 2017. Canada’s license requests through August 21st totaled total 348,948 tons, down 1.0% or 3,345 tons YTD y/y. Canada has only requested 18,786 tons of licenses thus far in August, down 58.3% from its May, June and July average of 45,056 tons. Japan’s YTD date license requests stood at 199,685 tons, down 10.9% from the 224,265 YTD y/y volume in 2016. For August, Japan’s requests were for 21,822 tons, down 16.0% from the May, June and July average of 25,990 tons. Ukraine’s license requests YTD were 104,439, down 14.0%, 17,092 tons YTD y/y. Ukraine’s has not asked for any tons, for July or August after averaging 17,407 tons from January through June.
Brazil was the next largest exporter with 108,343 tons YTD, up 29.3% from YTD 2016 level of 83,776 tons. August license requests total fell to 8,775 tons down 46.3% from the May, June and July average of 16,355 tons. Turkey’s YTD date license requests stood at 103,877, up 32,643 tons y/y or +45.8%. For August and July, Turkey requested zero tons, down from its YTD average of 17,313 tons. Germany’s licensed tons were 96,939 YTD 2017, up 92.4% YTD y/y. Germany’s licensed volume for August was down to just 1,004 tons, 96.3% lower than its May, June and July average of 27,030 tons. So far in 2017 Russia has licensed 57,504 tons compared to 77,772 tons for the eight months of 2016, down 26.1% y/y. Russia requested zero tons for August, down from its May, June and July average of 6,159 tons.
The next 14 largest exporting countries (including: Korea, Spain, Mexico, UK, Belarus, Italy, South Africa, Egypt, India, Morocco, Taiwan, France and the Netherlands), of wire rod to the US combined to ship 266,401 tons YTD in 2017, The combined license requests through August 21st was for 19,620 tons down 55.3% from a combined May, June and July average of 43,866 tons.
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