Steel Markets
November import licenses fall to recent low
Written by Laura Miller
December 8, 2023
A count of November license applications suggests steel imports were at their lowest monthly level in 33 months (see Figure 1).
Import license applications fell below the 2-million-net-ton mark in November, coming in at just under 1,983,000 tons, according to data from the US Department of Commerce’s International Trade Administration. That’s a 10% decline from October’s final import count of almost 2,201,000 tons, and just 2% lower than November 2022 imports of 2,013,420 tons.

Licenses to import semi-finished steel bounced back after dipping in October, with November’s license count of 385,285 tons 17% higher month on month (MoM). Compared to the same month of 2022, November licenses are 63% higher.
Finished steel import licenses, meanwhile, were 15% lower MoM and 10% lower year on year (YoY) at almost 1,597,700 tons in November. Products seeing significant increases included line pipe greater than 16 inches in diameter, other metallic-coated sheet, hot-rolled bars, and galvanized sheet (see Table 1).
Licenses for other metallic-coated sheet products rose on higher monthly shipments from Mexico, South Korea, Taiwan, and Japan.
Imports of line pipe with diameters greater than 16 inches look to have been at their highest monthly level so far this year, with 50,726 tons of licenses in November. The increase is due to a spike in shipments from Turkey, with nearly 23,530 tons of licenses counted in November.

As SMU has been reporting, domestic hot-rolled coil (HRC) prices have been surging, creating a growing gap in domestic vs. import pricing. SMU has been hearing of increasingly more attractive import offers coming from multiple countries. Because of this, an increase in imports is possible in the coming months.
Note that license counts can differ from preliminary and final figures, as import licenses are required to be obtained before actual importation.
We’ll take a deeper dive into November imports when preliminary figures are released later this month.

Laura Miller
Read more from Laura MillerLatest in Steel Markets

Hot-rolled coil market remains slow, market participants say
Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week.

Plate prices slip even as mills officially keep tags unchanged
US plate market participants are not fazed by the constricted nature of the current spot market pricing environment. Right now, they said, mill’s choosing to hold prices from one month to the next makes sense because service centers remain amply supplied and demand is stable. Modest upticks or slips in prices are aligned with most of the participants' expectations right now.

Still no cure for the summertime HR market blues
Seasonal steel slowdowns combined with ongoing anxieties about tariffs and mill strategies have dampened sentiment for several hot-rolled steel market participants this week. Buyers are jittery, market stands still The operator of a Midwest-based service center said that steel buyers are scared. “Everyone is afraid to buy steel right now. Unless you’re on a […]

SSAB Americas reports higher Q2 production and shipments
Despite improved operating results, SSAB Americas' second-quarter and H1’25 profits fell short of those of last year.

Global steel production slips in June
The total volume of raw steel produced around the globe fell by 5% from May to June, according to recent data published by the World Steel Association (worldsteel).