Steel imports slump in September and October

With the end of the US government shutdown, the Department of Commerce has resumed updating its trade records, including steel import license data. According to figures released last week, imports have declined considerably from our early September update, with September and October trade down to levels not seen in nearly five years.

The total volume of steel products entering the country in September eased to 1.65 million short tons (st), the lowest monthly rate since December 2020. October license figures are down even further to 1.60 million st. November licenses through the 17th totaled 979,000 st, but we will omit this partial month’s data in this analysis as permits are still being collected. Recall that imports spiked to a two-and-a-half-year high of 3.08 million st at the start of the year (Figure 1, left).

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.