Wire Rod licenses for the month of November through the 14th, totaled 26,169 tons, 82.7% lower than the year to date, (YTD) average of 151,384 tons. On a YTD basis licensed import volume was 1,665,227 tons, 4.9% less than the 1,751,159 tons YTD 2016. Three HTS codes are includes in this analysis. The largest contributor is Bars (<0.55”), which accounts for 71% of the total. Bars (silico-manganese) and Bars (alloy steel), makes-up the balance, accounting for 4% and 25% respectfully.
Figure 1 shows total Wire Rod licenses through November for both 2016 and 2017 as reported by the Steel Import Monitoring System (SIMA). September licenses to date are sharply lower than in previous months.
Figure 2 charts the YTD total by country for 2016 and 2017. Canada’s license requests through November 14th totaled total 476,147 tons, essentially flat, (+0.2% or 1,108 tons) YTD y/y. Canada has requested 14,221 tons of licenses thus far in November, down 67.1% from its YTD average through September of 43,286 tons.
Japan’s YTD date license requests stood at 271,087 tons, down 12.0% from the 307,913 YTD y/y volume in 2016. For November to date, Japan’s requests to-date were for 5,913 tons, down 76.0% from YTD average of 24,644 tons. Brazil was the next largest exporter with 150,647 tons YTD, up 19.2% from YTD 2016 level of 126,422 tons. November to date license requests are for 3,218 tons, 76.5% lower than the 13,695 ton YTD average through September.
Ukraine’s license requests YTD were 104,439, down 33.8% or 53,394 tons YTD y/y. Ukraine’s has not asked for any licensed tons since June. Turkey’s YTD date license requests was for 104,591 tons, up 8,832 tons y/y or +9.2%. Turkey has requested zero tons over the past three months and just 714 tons over the last five months. Its YTD average was 9,508 tons. Germany’s licensed tons was 128,583 YTD 2017, up 61,447 tons +86.9% YTD y/y. Germany’s licensed volume for November was 1,526 tons, 86.9% lower than its YTD average of 11,689 tons. Russia has licensed 57,504 tons for November compared to 103,232 tons for the first 11 months of 2016, down 44.3 y/y. Russia has not requested any licenses for wire rod tons since July.
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 U.S. combined to ship 369,968 tons YTD in 2017, The combined license requests through November 14th was for 1,292 tons, down sharply from the YTD average through September of 33,633 tons.
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