Total SBQ licenses year to date, (YTD) through March 13^th totaled 81,716 tons, down 16% from the YTD 2017 total of 97,035 tons. Thus far in March, 9,202 tons of licenses have been requested, down 74% from the 34,995 tons in March 2017.

Figure 1 shows the monthly total SBQ licenses for from April 2017 through March 2018 as reported by the Steel Import Monitoring System (SIMA).

There are seven HTS codes for SBQ. Taking a look at the total licensed tons for 2018, for each of the HTS codes we see that; Bars (free cutting) licenses totaled 3,568 ton in March and 11,531 tons YTD. Other bars (forged) licenses totaled 1 ton in March and 2,741 tons YTD. Other bars (free cutting) licenses totaled 2,053 in March and 12,542 tons YTD. Other bars (cold formed/cold finished), licenses totaled 98 in March and 12,675 tons YTD. Bars (cold finished) licenses totaled 856 in March and 11,450 tons YTD. Other bars (alloy steel forged) licenses totaled 885 in March and 6,916 tons YTD. Other bars (alloy steel cold formed/cold finished), licenses totaled 1,731 in March and 23,860 tons YTD.

Figure 2 charts SBQ licenses YTD through March 13th 2018, along with YTD 2017 by country. Germany requested 14,472 licensed tons YTD, down 16% y/y. Germany’s license requests through March 13^th was 2,113 tons, 69% lower than March 2017.

France requested 10,825 licensed tons in 2018, 156% greater than its 2017 volume of 4,235 tons. France’s March to-date license requests were for 3,212 tons, a seven-fold increase year on year, (y/y). Canada licensed 12,949 tons YTD, down 43% y/y. Its March to-date licensed tons, were for 955 tons, down 89% compared to March 2017. Spain’s licensed 3,581 tons YTD, up 45.5% y/y. Spain’s March 2018 license requests thus far were for 227 tons, a fraction of the 4,261 tons licensed in March 2017.   China licensed 9,964 tons YTD, a 68% increase y/y. March license requests were for 227 tons, down 85% from last March.

Italy’s SBQ licenses totaled 3,979 tons YTD, down 19%, y/y. Italy has asked for 432 tons of SBQ licenses so far this month, 80% less than for March of 2017. Brazil licensed 3,542 tons YTD, a 12% y/y decrease. Brazil has requested 194 tons so far in March, 77% lower than March 2017. The United Kingdom’s YTD license requests for SBQ add to 2,031 tons, down 34% y/y. March to-date requests were for 217 tons compared to 1,024 tons in March of last year. Korea licensed 2,317 tons YTD, 31% lower than 2017 volume. Korea has requested 394 tons so far this month, 71% less than March 2017. Sweden licensed 3,705 tons YTD, a 16% y/y increase. For March to date, Sweden had licensed 298 tons, down 74% y/y.

Twenty-three additional countries combined to license 8,871 tons of SBQ YTD 2018. The combined license volume to-date for March though the 13^th was 952 tons.

The average $AUV for December was $1,281 per ton. The average $AUV increased to $1,332 in January and further increased to $1,453 in February. Thus far in March, the average $AUV fell-back to $1,230 per ton.

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