Rebar licenses through November 14th totaled 39,952 tons, well down, (71.4%) from the year to date, (YTD) average of 139,918 tons. On a year to date, (YTD) basis, there have been a total of 1,441,480 tons of rebar license requests, down 553,610 tons or 27.7% from the 1,995,090 tons of license requests YTD 2016. Straight lengths accounts for 98.6% of rebar imports, the remaining 1.4% is coiled.
Figure 1 shows total rebar licenses by month through November 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. Year to date, Turkey’s license requests totaled 891,836 tons down 497,887 tons YTD y/y, (-35.8%). Turkey’s has yet to request any licensed tons in November. Turkey’s YTD average requested tonnage through September was 89,184 tons. Turkish material accounts for 61.9% of all rebar licenses YTD. This ratio was 69.7% YTD 2016. Japan with 24,169 tons of licenses YTD was down 91.5% from YTD 2016 level of 285,888 tons. Japan appears to have withdrawn from the market as it has not requested any licenses since February.
It is evident from Figure 2, that other countries are stepping-up to make-up some of the tons that Turkey and Japan have relinquished in 2017.
Taiwan licensed 13,352 rebar tons for U.S. export YTD 2017, tumbling 90.8% y/y from 144,509 tons YTD 2016. Taiwan came back to the U.S. in June (3,783 tons) and July (9,569), after zero tons in the January to May timeframe. Taiwan has not request any licensed tonnage since July. Portugal was the next largest exporter with 88,566 tons through November, a 20-fold increase from YTD 2016s, 4,344 tons. Portugal did not request any license for September and October and has yet to license any tons for November. Brazil requested 63,574 licensed tons YTD, 167% higher than its 23,819 tons YTD average in 2016. Brazil has requested 10,655 tons for November, 84.4% higher than its YTD average.
Vietnam has a YTD total of 61,627 tons of licenses, up from 14,570 in 2016. Vietnam has not requested any licenses for November through the 14th. Spain’s total licensed tonnage YTD was 77,884 tons. Year to date 2016 Spain’s license total was 3,930 tons. Spain has requested licenses for 23,454 tons for November. Peru requested 52,113 tons YTD, double its YTD 2016 volume of 25,921. Peru has not requested any tons since June. Italy licensed a total of 56,261 tons YTD in 2017, Italy did not export any rebar to the U.S. in 2016. Italy has not requested any licensed tonnage for November. The Dominican Republic’s license total YTD was 27,191 tons, up 29.0% over its YTD 2016 total of 21,349 tons. The Dominican Republic has licensed 661 tons for November. Its YTD monthly average is 2,472 tons.
Twenty-two additional country’s combined for a total of 84,907 licensed tons YTD in 2017. The combined total license request month to date for November was 1,158 tons.
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