Prices
Preliminary Data Shows Finished Steel Imports Down in June
Written by Brett Linton
July 28, 2020
Recently released preliminary steel import data shows June imports totaling 1.39 million net tons, according to the U.S. Department of Commerce. This is down 410,000 tons or 23 percent compared to final May imports.
Taking semifinished products out of the picture, imports of finished products were down 12 percent in June over the previous month; 1.32 million tons of finished imports are reported to have been imported, down 180,000 tons from May figures.
July import licenses are currently just over 2.0 million tons in total, with 1.26 million tons being finished products and 750,000 tons being semifinished.
Note: The January, April, July, and October import figures are unusually high as a result of buyers seeking to max out quarterly quota limits on semifinished products. For the remainder of each quarter, final semifinished imports are significantly lower. Due to these month-to-month swings, SMU has ceased monthly import “trending” projections and now only shows unadjusted figures as reported by the Commerce Department.
The three graphics below show total steel imports through July license data. To provide the most clarity, we are only showing a limited time line in each graphic. To see a greater data history and utilize our interactive graphing features, you can visit our website. Contact us at info@SteelMarketUpdate.com if you have any questions.
Brett Linton
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