ACCOUNT PROFILE

U.S. Steel Imports Witnessed Substantial Dip in August

Posted on 30 September 2021

The total steel imports stood at 2.767 million net tons during the month of August this year, as per the most recent Steel Import Monitoring and Analysis (SIMA) data published by the U.S. Commerce Department. This is significantly down by 10.1% when compared with the imports during the prior month. Contrary to this, the finished steel imports were up marginally by 1.0% over the previous month to total 2.102 million net tons in August this year.

The finished steel product that reported highest surge in import volumes was hot rolled sheets, whose imports during the month recorded nearly 22% month-on-month surge. The imports of hot dipped galvanized sheets and strip and mechanical tubing too were up by 18% and 14% respectively. Meantime, the products with large declines in imports were oil country goods and Ingots and Billets and Slabs, whose import volumes plunged by 34.4% and 33.3% respectively, said the American Iron and Steel Institute (AISI).

In August this year, South Korea was the largest offshore supplier of steel to the U.S. The supplies from that country dropped substantially by 45% from July to total 163,000 net tons. The second largest supplier was Taiwan, with supplies totalling 105,000 net tons, followed by Germany with 80,000 net tons.

Source : Scrap Monster