Imports of blooms, billets and slab rose 8.2% while hot-rolled steel and wire rod imports fell 9.3% and 10.1% respectively in July.
Imports from other countries in July compared to June:
- Canada increased to 594,500 tons from 579,405
- Mexico decreased9% to 349,343 tons
- Russia increased by 30.5% to 210,540 tons
- Japan decreased to 60,924 tons from 126,982 tons
- Korean increased to 265,573 tons from 248,582 tons
- Brazil increased by 34.8% to 413,306 tons
“Steel buyers continue to face myriad challenges, from market tightness to logistics issues.
Global steel production declined for the second straight month on a month-over-month basis in July, the World Steel Association reported this week.
In the U.S., buyers are vying for limited supply, whether domestically or in the form of steel imports, amid an unprecedented ascent of steel prices over the last year.
Some relief is coming in the form of Steel Dynamics, Inc.’s (SDI) new electric arc furnace (EAF) flat rolled mill in Sinton, Texas. In its Q2 investor report, the steelmaker said it plans to start production at the mill in mid-Q4 2021.”
Information courtesy of Metal Miner, Market Analysis Report by Fouad Egbaria on AUGUST 26, 2021 Photo by Ant Rozetsky on Unsplash
