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Evraz update on North American business in H1of2018

Steel News - Published on Fri, 10 Aug 2018

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In H1 2018, steel product consumption in the US market increased by 3% to 53.4 million tonnes, compared with 52.0 million tonnes in H1 2017. While demand for long products remained stable in year-on-year terms during the period, consumption of flat and tubular products climbed by a respective 4% and 17%. Demand for OCTG pipes soared by 17% to 2.3 million tonnes against the backdrop of further growth in drilling activity in the US oil and gas market. Demand for LDP in North America remained relatively stable in H1 2018. Plate demand in the US increased by 29%, while rod and bar demand remained stable.

In H1 2018, the 25% tariff enacted by the US under Section 232 drove steel imports down 3% year-on-year to 16.1 million tonnes. Domestic steel production increased by 3% to 41.8 million tonnes.

US steel prices continued to rise in response to the imposition of tariffs on steel imports and healthy domestic demand. Average prices surged by 23% to US$941 per tonne for plate, by 16% to US$1388 per tonne for OCTG and by 24% to US$937per tonne for wire rod.

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Posted By : Rabi Wangkhem on Fri, 10 Aug 2018
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