Steel Products Prices North America
Preliminary June Imports Reach 17-Month High
Written by Brett Linton
July 27, 2021
Preliminary Census data shows that total foreign steel imports are up 15% from May to June, reaching 2.90 million tons. This is now the highest monthly import level of 2021, surpassing the April high of 2.64 million tons. The last time imports were this high was January 2020 when imports totaled 3.16 million tons.
July import licenses through the 25th are at 2.29 million tons, down 21% from June (though data for July is not yet complete), and down 9% from May. For comparison, 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.
Total finished steel imports were at 2.10 million tons in June, the highest level seen since January 2019 when they reached 2.50 million tons. Finished steel import licenses for July are currently at 1.53 million tons.
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 U.S. steel import trends. The 3MMA through preliminary June import data is 2.69 million tons, up from 2.49 million tons in May and up from 2.28 million tons in April. The lowest 3MMA level in our recent history was October 2020 at 1.36 million tons. The June 3MMA is now the highest seen since March 2019. Looking into July licenses, the July 3MMA would be down slightly to 2.57 million tons.
The table below displays flat rolled product imports as well as other high-volume products, including rebar, tin plate, wire rod, structural pipe and tube, and other long products. We also provide data on categorized imports divided into semifinished, finished, flat rolled, longs, pipe and tube, and stainless products.
The two charts below show monthly imports grouped by product category: flat rolled imports and pipe and tube imports. Flat rolled imports surged to a multi-year high in June to 1.08 million tons, with the latest July licenses at 785,000 tons. Pipe and tube imports rose to 388,000 tons in June, while July licenses are currently at 249,000 tons.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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