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    April 15, 2021

    February Import Market Share for Sheet and Plate Products

    Written by David Schollaert

    This report examines the import share of sheet and plate products. Imports’ share of total sheet product shipments was 14.0% in February, up from 9.7% in January. The increase corresponds to a simultaneous decrease in domestic shipments and a rise in imports. Domestics shipments in February totaled 3.84 million tons, the lowest mark since this past August when domestic shipments totaled 3.82 million tons, while imports of sheet products totaled about 626,069 tons, the second highest total over the past 12 months. This dynamic points to the continued tension seen across the U.S. steel market of rising demand, limited supply, and extended lead times that are driving steel prices to new historic highs.

    The import share of hot rolled coil (HRC) reached 11.3% in February, up from 6.7% in January and the highest mark since October 2018. The trend should continue in the coming months as buyers seek much-needed inventory and relief from rising domestic prices. Preliminary license data available through the U.S. Department of Commerce shows March HRC imports are already exceeding Februarys’ totals.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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