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U.S. steel imports fell 17% in October
It is understood that in October, the total imports of steel products in the United States fell by 16.7% month-on-month to 2.7 million short tons, mainly due to the decline in the supply of semi-finished products (-67% to 382,000 short tons). Brazil is the largest supplier of semi-finished products in the United States, and its shipments decreased by 51% to 131,900 short tons, which has exhausted most of this year's quota.
In October, the volume of finished steel imports fell by 6% month-on-month to 2.3 million short tons, due to the decline in shipments of main product types—oil and natural gas pipes (-41% to 144,300 short tons), pipeline pipes(-31% to 6.9 million short tons), tinplate (-36%, to 60,700 short tons), standard pipes (-23%, to 49,500 short tons) and rebar (-12%, to 139,800 short tons). The decline in the supply of these products exceeded the increase in the purchase of hot rolled coil (+13%, reaching 498,600 short tons), galvanized steel (+12%, reaching 269,100 short tons) and wire rod (+8%, reaching 126,200 short tons).
The month-on-month decline in oil and gas pipe imports was mainly due to reduced supplies from South Korea and Mexico. At the same time, the main reason for the increase in the supply of hot-rolled sheet is due to increased purchases from South Korea and Turkey. Last month, South Africa substantially increased its supply of galvanized steel to the United States.
The largest steel product suppliers in the United States last month were South Korea (-32% from the previous month to 203,000 short tons), Turkey (+26% to 149,000 short tons), and Vietnam (+41% to 110,000 short tons) , Germany (-6% to 83,000 short tons) and Japan (-3% to 80,000 short tons).
According to AISI’s estimates, total imports and finished steel imports this year will be 31.8 million short tons and 22.8 million short tons, an increase of 45% and 41% year-on-year respectively.
