Steel Products Prices North America
Final October Steel Imports Rise to 1.5 Million Tons
Written by Brett Linton
December 10, 2020
Commerce released final steel import data this week showing October imports totaling 1.51 million net tons, up 20 percent over the month prior. Although imports increased for the month, recall that September imports had fallen to an 11-year low or 1.26 million tons. November import licenses are currently at the 1.40 million ton level, but will continue to fluctuate over the next few weeks as data is processed.
Due to large month-to-month swings in semifinished imports, the chart below shows total monthly imports on a three-month moving average (3MMA) basis in an attempt to more accurately display the U.S. steel import trend. The 3MMA for November is now 1.39 million tons, up slightly over October. The average monthly import level for 2020 is now 1.88 million tons through November license data.
Total finished imports in October are up 8 percent over the prior month, up to 1.27 million tons. Imports of semifinished products (mostly slabs) were 240,000 tons, up from 85,000 tons in September.
November import licenses are currently comprised of 1.34 million tons of finished product imports and 70,000 tons of semifinished steels.
The two charts below show monthly imports grouped by product category–flat rolled imports and pipe and tube imports. Both charts show 2020 levels are down over the previous year, much more so in the pipe and tube category than flat rolled. We have limited data here, but hope to expand in the future.
Brett Linton
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