Steel Products Prices North America
Foreign Steel Imports: Below 2 Million Tons in September
Written by Brett Linton
October 10, 2019
Preliminary data for the full month of September, based on Commerce Department import licenses, shows that steel imports likely totaled less than 2 million tons last month. This is comparable to the final Census data for August, putting imports for the past two months at well below average.
One notable difference in September–estimated finished steel imports, at less than 1.6 million tons, were well below the 1.8 million tons in August and the average of 1.9 million tons over the past 12 months. With steel prices in the U.S. declining toward new lows for the year, buyers have little incentive to shop for better deals on imports.
Licenses for imports of semifinished steel in September saw a small uptick from August, but were still well below average. Imports of semifinished steels are expected to spike in October as domestic mills seek to secure the slabs they will need to finish the year. Some slab imports are subject to quarterly quotas, thus as the first month of the fourth quarter, October presents an important buying opportunity for a product that may be in short supply.
Imports were flat or down in almost every product category in September, based on the license data. See the chart below for more detail.
Below are three graphs showing the history of U.S. steel imports through final August figures. To use their interactive features, view the graphs on our website by clicking here. If you need assistance logging into or navigating the website, contact us at info@SteelMarketUpdate.com.
Brett Linton
Read more from Brett LintonLatest in Steel Products Prices North America
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.
Nucor CSP remains level at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.
Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.
HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.