The American Iron and Steel Institute (AISI) has released new figures indicating a downturn in U.S. steel imports for June 2024. The total imports for the month amounted to 2,422,000 net tons (NT), marking a 10.7% decrease from May's 2,711,000 NT and a 15.1% decline from the final May figures of 2,851,000 NT. Imports of finished steel in June also fell, totaling 1,862,000 NT, which is a 16.5% drop from May's 2,230,000 NT.
Despite the monthly reduction, the overall data for the first half of 2024 show an increase from the same period last year. Total steel imports from January to June 2024 reached 15,610,000 NT, a rise of 4.0%, while imports of finished steel increased by 3.4% to 11,848,000 NT.
June's data also highlighted substantial increases in certain steel products compared to May: steel piling surged by 167%, heavy structural shapes by 29%, and hot rolled sheets by 11%. Over the year, there have been notable rises in several categories, with metallic coated sheets and strips increasing by 74%, hot dipped galvanized sheets and strips by 41%, wire rods by 35%, cold rolled sheets by 32%, and heavy structural shapes by 18%.
In terms of import sources, the largest volumes in June came from Canada with 563,000 net tons, down 2% from May, followed by Brazil with 458,000 net tons, up 1%. South Korea contributed 252,000 net tons, down 32%, Mexico supplied 197,000 net tons, down 36%, and Vietnam provided 113,000 net tons, reflecting a 24% decrease. For the first six months of 2024, Canada remained the largest supplier despite a 6% reduction in volumes, followed by Brazil with a significant 26% increase and Mexico with a 17% decrease.
Comments
No comment yet.