Wire Rod licenses for the month of February through the 20^th, totaled 85,978 tons, 46.1% lower than February 2017. On a YTD basis licensed import volume was 191,266 tons, 35.5% less than the 296,766 tons YTD 2017. Three HTS codes are includes in this analysis. Year to date, 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 5% and 22% respectfully.

Figure 1 shows total Wire Rod licenses through February for both 2016 and 2017 as reported by the Steel Import Monitoring System (SIMA). License volume is definitely trended downward.

Figure 2 charts the YTD total by country for 2016 and 2017. Canada’s license requests YTD through February 20^th totaled total 66,269 tons, down 35.5% y/y. Canada has requested 26,177 tons of licenses thus far in February. Japan’s YTD date license requests stood at 38,603 tons, down 10.0% from the 42,893 YTD y/y volume in 2017.  Japan has requested 10,672 tons for February.

Brazil was the next largest exporter with 34,989 tons YTD, 7.7% greater than the YTD 2017 level of 32,475 tons. February to date license requests are for 10,497 tons, 34.8% lower than the 16,121 ton for February 2017. Ukraine has not requested any license so far in 2018. For YTD 2017, Ukraine licensed 44,564 tons. Germany’s YTD license volume through February was 28,488 tons, an eight-fold increase over its 2017 YTD volume of 3,604 tons. Germany’s licenses for February to-date total 27,363 tons, a significant increase vs. the 1,945 ton level in February 2017.

Russia and Belarus and Italy have yet to license any tons in 2018. There respective volumes YTD 2017 were; 18,991 tons, 16,762 tons and 11,408 tons. Turkey’s YTD date license requests total just 18 tons, down from last February’s 2,922 ton volume. Mexico’s YTD license volume was 4,688 tons, 44.1% lower compared to the 8,391 tons YTD 2017. Mexico has requested licenses for 2,284 tons thus far in February.

Three additional countries, (Netherlands, China and Luxembourg) licensed a total 140 tons of wire rod YTD in 2018.

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