Analysis
February 8, 2024
Written by Laura Miller
2023 was the third-lowest year for steel imports in the last decade, according to an SMU analysis of data from the US Department of Commerce.
Steel imports into the US declined for the second year in a row, falling 9% from 2022 and 32% from 2021 to 28,187,800 short tons (st) in 2023. This includes semi-finished and finished carbon, alloy, and stainless steel products.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations.
SSAB Americas announced immediate changes to pricing extras on select products, according to a letter sent to customers Friday morning.
Kibar Americas said production has started at its aluminum plant in Fairmont, W.Va., where it will manufacture products for the HVAC, packaging, automotive and industrial sectors.
The phrase “Fortress North America” seems to resurface anytime US, Canada, and Mexico trade negotiations roll around. The idea of an economic Fortress North America burst onto the scene in the late 1980s and early 1990s in the lead up to NAFTA. In theory...