Prices
Final February Steel Imports Down to 2.4 Million Tons, March Licenses Rebound
Written by Brett Linton
April 5, 2022
Final Census data confirms that February steel imports declined 23% month-over-month to 2.35 million net tons, now at an 11-month low compared to January’s two-year high. March import licenses through April 4 are up to 3.08 million tons, a 31% increase over February and 1% higher than January. Current April licenses are already at 449,000 tons.
Total finished steel imports slid 19% to 1.86 million tons in February, down 21% from the 3.5-year high seen last November. License data shows finished steel import licenses have surged 39% in March, currently at 2.58 million tons (up 13% compared to January).
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 US steel import trends. The 3MMA through final February data is 2.76 million tons, down from January’s 42-month high but still strong compared to recent years. For comparison, 2021 averaged 2.63 million tons per month, 2020 averaged 1.84 million tons per month, 2019 averaged 2.32 million tons per month. The lowest 3MMA level in SMU’s recent history was October 2020, at 1.36 million tons. With the latest March license data, that 3MMA is at 2.83 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 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 as well as pipe and tube imports. February flat rolled imports fell to 883,000 tons, down 32% from a multi-year high of 1.31 million tons in January. March license data currently shows 1.26 million tons of flat rolled imports coming into the country. Pipe and tube imports declined 2% to 384,000 tons in February, a six-month low, while March licenses have rebounded 53% to 586,000 tons.
We have an interactive graphing tool available on our website here where readers can further investigate historical import data, in total and by product. If you need assistance logging into or navigating the website, contact us at Info@SteelMarketUpdate.com.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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