Canadian steel import permits in March

Canadian steel import permits in March

Canada's Department of Foreign Affairs and International Trade recently released data on permitted steel imports for March 2005. The data show that permitted steel imports for March 1-26 totaled 474'094 metric tons. This marks the third consecutive monthly decline for steel imports. February's figure was 554'541 metric tons. The permitted imports carried a trade value of C$506 million (US$417.5 million) at an average price of CA$1'067/mt (US$880/mt). The US continued to be the major steel exporter to Canada. The US shipped 295'000 metric tons to Canada, a drop of nearly 30'000 tons from February. China increased its shipments to the country in March, following the dramatic decrease in February due to the Lunar New Year holiday. Steel import permits given to China in March totaled 49'000 metric tons. Germany ranked third, having received permission to ship 12'000 metric tons of steel products to Canada. Russia's share in exports to Canada decreased dramatically, from 18'000 metric tons in February to 8'427 metric tons in March. Imports of hot rolled sheets, which fell more than 15'000 metric tons from February, topped the list at 85'312 metric tons. This corresponds to CA$85.5 million (US$70.6 million) in trade value. The US supplied 71'600 metric tons of that figure, while China and South Korea shipped 4'224 and 4'125 metric tons respectively. Carbon alloyed cut plates finished second in steel imports at 67'250 metric tons, up 20'000 metric tons from February. The US alone accounted for 36'400 metric tons of the imports. Russia contributed 5'458 metric tons. Total cold rolled sheets experienced an 8'000 metric ton decrease to 26'500 metric tons. The value of cold rolled sheet imports was nearly CA$35.6 million (US$29.4 million).