Based on the most recent steel import license data released by the U.S. Department of Commerce earlier today, July steel imports appear poised to break above the 3.586 million net tons seen in June. New license data suggests the number could be closer to 3.7 million net tons.
The largest single foreign steel importers continue to be the domestic steel mills. In May the steel mills imported more than 25 percent of all the steel brought into the United States with 1,074,972 net tons of it being semi-finished (mostly slabs). In June the semi’s slipped to 24 percent and the latest data suggest semi’s will be down again in July.
As we look at flat rolled steels we are seeing a continuation of increased imports on hot rolled coil and coiled plate. Combined the two products are expected to reach 660,000 net tons.
Hot rolled imports are coming in at high (historically) numbers from South Korea, Russia, Italy, Netherlands, Japan and Turkey. Even Brazil increased their HRC shipments to the U.S. in July.
Galvanized imports appear will continue at high levels with 287,990 net tons. China will be the biggest exporter of GI to the U.S. during the month of July. China is forecast to match May’s high of 80,000 net tons.
Galvalume imports appear will be close to or exceed May levels which were in excess of 100,000 net tons. Taiwan, South Korea, China and Mexico are the largest exporting countries.
Source: steelmarketupdate
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