According to statistics published by the Department of Commerce of the United States, steel imports into the United States decreased by 4.1 percent from the previous month to 2.505 million tons in September 2013, compared to 6.1 percent increase during the same period in the previous year. The overall amount of steel imported in the first nine months, 21,674,000 tons, fell by 7 percent year on year. When compared to the previous year, the growth rate of rebar is the largest, reaching 155 percent; hot rolled growth of 24.4 percent; galvanized sheet climbed by 11.9 percent; nevertheless, the growth rate of steel pipe, wire, and plate is bigger. When compared with the previous month of August, there was a bigger reduction in the volume of cold, steel pipe, and wire rod; nevertheless, there was a higher gain in the amount of rebar. From looking at the nations and areas that are the sources of imports, we can observe that compared to the previous year, the rise of imports from Central and South America, Japan, China, and Turkey is substantially higher, while imports from the CIS and the EU have greatly dropped. In comparison to the previous month, imports from Japan, China, and Turkey all saw considerable increases, while imports from North America, South America, South Korea, and the CIS all saw major decreases. The United States imported 176,500 tons of steel from China in September, which is an increase of 76.88 percent from the previous month and an increase of 89.4 percent from the previous year. The most recent statistics show that up until October 25, 2013, the number of october u.S. steel import licenses was 127 million tons. Given that this number is significantly lower than the value for the same time period in September, it is anticipated that the volume of u.S. steel imports will drop significantly in October. According to the most recent projection of the Japanese Ministry of Economy, japan’s crude steel output of this year is expected to increase to 111 million tons, which is a growth of 3.1 percent compared to the previous year. This is expected to be a five-year record high for japan’s crude steel output. The primary motivation is for the government to boost expenditure on public works projects and residential building. Recent statements made by the prime minister of Japan indicate that the country’s existing consumption tax rate of 5 percent would increase to 8 percent in April of the following year. while doing so, boosting investment on infrastructure to encourage the central bank to adopt more robust steps to eliminate deflation. Since entering office in December of the previous year, the Prime Minister of Japan has allocated at least 10 trillion yen for the purpose of upgrading Japan’s infrastructure. In addition, the amount of development in Japan is continuing to rise, especially the rehabilitation projects in the northeast after the earthquake that occurred in March of 2011. Japanese steel companies, notably Japan’s biggest steel manufacturer nssc business and jfe steel corporation, saw increases in both their share price and their profits as a result of increased demand for steel and a weakening in the value of the yen. Since the end of December of the previous year, the value of one dollar in japanese yen has decreased by around twenty percent. The weakening of the yen not only halted the import of resources from China, South Korea, and other Asian nations, but it also assisted Japanese manufacturers in regaining their former level of competitiveness in export markets. As a result, domestic steel manufacturers have been working very hard to boost their output. If you are looking for a provider of high-quality carbon steel pipe, tinplate, or steel wire in China, go no further than ontrend industrial limited. If you have any questions, feel free to contact us via our website.
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