License Data Shows Steel Imports Up in October

October saw a small increase in finished steel imports, but a big increase in semifinished imports, based on Commerce Department license data for the full month.

Finished steel imports saw a 14 percent decline from August to September in a comparison of the final Census Bureau data for the two months, followed by a small, 3 percent rebound in October based on Commerce license data. While finished steel imports remained considerably below average last month, imports of semifinished steel approached a million tons as domestic steelmakers moved to secure slabs in the first month of Q4 ahead of quarterly quota restrictions on imports from Brazil and other nations. Semifinished imports in November are likely to regress to levels similar to August as the mills will have ample supplies of slabs.