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    Analysis

    Steel imports tumbled further in July and August

    Written by Brett Linton


    US steel imports declined for the second consecutive month in July, according to recently finalized US Commerce Department data.

    The total volume of steel products that entered the country in July eased to 2.24 million short tons (st), the second-lowest monthly rate recorded this year. Preliminary August license figures suggest imports fell 16% further to 1.88 million st, potentially the lowest rate seen since December 2020.

    Brett Linton

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    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    The words "Aluminum Market Update" in white against a dark blue background

    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.

    Leibowitz: US steel prices skyrocket above world prices. Which are right?

    Steel markets in the United States now feature supply shortages. Spot tons are well-nigh unavailable, and even contract tons are scarce. Based on the available statistics, the US market for flat-rolled products is seriously constrained. The US economy is still the strongest in the world, and manufacturing output remains vigorous. But the available supply is tight. The reason is fairly obvious. US domestic supply has increased a bit. Meanwhile, imports have fallen significantly.