Steel Markets
January import licenses at six-month high
Written by Laura Miller
February 9, 2024
Based on initial license data for January, steel imports appear to have risen to a six-month high, and flat-rolled steel imports to a seven-month high.
Licenses to import steel totaled 2,359,250 short tons (st) in January, according to a count by the US Department of Commerce as of Feb. 5.
While those January licenses are 13% higher than December imports of 2,096,040 st, they’re down 10% from a year ago.
Recall that license counts can differ from Commerce’s preliminary and final figures, as license applications must be obtained before importation occurs.
Over the last year, November and December were the slowest months for steel arriving into the US, while June was the busiest.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/02.09.24_Imports_1-2.png)
Flat-rolled steel imports of 903,544 st in January were at their highest point in seven months.
Licenses to import other metallic coated sheet (AZ/AL) spiked in January to a 22-month high of 114,115 st. The top suppliers of the product, based on January licenses, were Vietnam, Mexico, Taiwan, and South Korea.
CR sheet imports were the highest they’ve been in six months with 118,892 st of licenses in January, with the top suppliers being Canada, Sweden, and Australia.
Other lower-volume categories with notable increases in January licenses include tin-free steel and hot- and cold-rolled strip.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/02.09.24_Imports_2-1024x596.png)
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/02.09.24_Imports_3_____-1024x632.png)
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/02.09.24_Imports_Table_1-1024x579.png)
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/SMU_LM_headshot.png.jpg-150x150.png)
Laura Miller
Read more from Laura MillerLatest in Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/GrafTech.jpg)
GrafTech’s Q2 loss widens in ‘challenging’ business environment
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/06/canacero-logo.png)
Op-Ed: The myth of the Mexican steel surge
We have heard ominous warnings about a flood of Mexican steel threatening the US market. It's the kind of rhetoric that gets thrown around often with little regard for the facts. The reality is that the Mexican steel surge is simply not happening, and the US steel industry has consistently maintained a significant trade surplus in finished products with Mexico. In 2023 alone, this surplus exceeded $3 billion.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/graph_up_arrow.png)
Influx of coated products fuels recent import surge
Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.