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Mexico June steel exports to the US is lowest so far in 2018

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Mexico June steel exports to the US is lowest so far in 2018

Sao Paulo — Mexican carbon and alloy steel exports to the US in June plunged 23.9% year on year to 214,413 mt, US Department of Commerce and US International Trade Commission data showed.

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It was the lowest exported volume so far in 2018.

Exports from Mexico to the US in June were down 37.4% from May.

The most exported products were semi-finished steels at 100,781 mt, up from 79,676 mt a year earlier and from 85,294 mt in May.

Preliminary Commerce census data said exports in July totaled 274,814 mt. The ITC said applications for import licenses totaled 378,322 mt for July and 171,378 mt so far for August.

Some Mexican steel producers and suppliers have suspended exports to the US and negotiations with American buyers following US President Donald Trump's imposition of tariffs on Mexican steel and aluminum.

Mexico received a temporary exemption from the 25% US tariff on steel when it took effect May 23, but the US announced June 31 exemptions would not be extended. Imports from Canada, the EU and Mexico have been subject to the tariff since June 1.

--Guilherme Baida, guilherme.baida@spglobal.com

--Edited by Derek Sands, derek.sands@spglobal.com