Prices
Final June Steel Imports at 2.8M Tons, July Licenses at 2.6M
Written by Brett Linton
August 5, 2022
Final Census data shows that June steel imports totalled 2.84 million net tons, 24,000 tons higher than preliminary figures reported last week. June imports are down 8% compared to March’s 26-month high of 3.09 million tons. Import licenses for July now total 2.57 million tons through Aug. 3rd data. This is up from 2.15 million tons reported the week prior.
Total finished steel imports totaled 2.25 million tons in June, down 6% from May and 12% less than March’s 46-month high. The latest license data shows July finished steel imports at 2.13 million tons (previously at 1.79 million tons).
Due to large month-on-month swings in semifinished imports in recent years, the chart below shows total imports on a three-month moving average (3MMA) basis in an attempt to more accurately display trends. Through final June figures, the 3MMA is up to 2.77 million tons, down from May but still the eighth highest level in the past four years. The latest license data suggests that the 3MMA could decline to 2.72 million tons through July.
Current import levels remain high compared to recent years: recall 2021 averaged 2.63 million tons per month, 2020 averaged 1.84 million tons per month, and 2019 averaged 2.32 million tons per month. In January 2022 the 3MMA had reached a 42-month high of 2.94 million tons. The lowest 3MMA level in SMU’s recent history was October 2020 at 1.36 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 and pipe and tube imports. June flat-rolled imports rose to 1.13 million tons, up 9% from the month prior. July licenses are currently showing 972,000 tons of flat-rolled steel set to enter the country. Pipe and tube imports were 493,000 tons in June, down 7% from May’s 2.5-year high. July pipe and tube import licenses are currently in line with June.
We have an interactive graphing tool available on our website here. Readers can explore 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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