July Import Market Share for Sheet and Plate Products

U.S. domestic steel demand remains strong, but supplies have been catching up and are largely in balance. These dynamics are starting to show as steel prices have seen a slower rate of rise and may be near a peak. Lead times are also contracting, with hot rolled now below nine weeks.

These changes are largely a result of steady domestic production and an increase in foreign imports as customers have looked overseas for price and supply relief. July data shows imports of most steel products have risen over the past two months as imports’ share of total sheet product shipments rose to 16.7%, up from 16.2% the month prior and the highest level in 14 months. The market share of plate product imports in June rose to 21.7%, eclipsing a recent three-year high of 21.4% seen in July 2018.

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.