Steel Imports Moving Up through March

Finished steel imports jumped by 14% from January to February, according to preliminary Census figures, as buyers placed more foreign orders in search of relief from short supplies and high prices in the U.S. February imports totaled an estimated 1.89 million tons, which is actually 22% lower than January overall. But January’s total was inflated by the usual bump in semifinished imports in the first month of the quarter as buyers seek to maximize quarterly quota limits.

March import licenses are currently at 2.38 million tons as of data through March 30, up 26% from February, but down 2% from January. Recall that the average monthly import level for 2020 was 1.84 million tons, down from 2.32 million tons in 2019 and 2.81 million tons in 2018. Preliminary March finished steel imports are at 1.69 million tons, up 18% over February and up 34% over January. March finished-steel imports could potentially reach a 19-month high.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.