[Ferro-Alloys.com] BNAmericas reported that steel exports from Latin America to the US nosedived in August, under pressure from quotas and higher US output. According to US Census Bureau data, shipments from the region totaled 276,647 tonne, down 70% from 925,113 tonne in the same month last year. By value, exports to the US were USD 236 million, down from USD 701 million in August 2018. Steel shipments were also down from 1.23 million tonne worth USD 840 million in July. The country shipped 15,311 tonne of steel worth USD 21.1million, down from 607,508 tonne and USD 385 millionn in August last year, and 910,976 tonne and USD 561 million this July. The drop reflects the impact of quotas on Brazilian steel, imposed instead of the 25% tariff applied to most US steel imports.
Brazil’s slab quotas for the year were filled by end-July, Mr Maximo Vedoya, CEO of Luxembourg-based steelmaker Ternium, said at the time.
Mexico is one of the few countries able to ship steel to the US without tariffs or quotas, after being excluded from the 25% levy in May to pave the way for ratification of the US-Mexico-Canada trade deal. (SteelGuru)
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