October Foreign Steel Import Licenses Show Big Jump in Semifinished

As expected, import licenses for semifinished steel have seen a big jump in October, the first month of the fourth quarter, as domestic mills seek to secure needed slabs ahead of quarterly quota restrictions on imports from Brazil and other nations.

Steel Market Update’s forecast of import licenses for the entire month show semifinished imports on track to top a million tons, similar to the 1.17 million ton total in July leading off the third quarter.