DoC: U.S. steel imports from China plunge 42% MoM in June

The United States imported 28,727 tonnes of finished steel products from China in June, marking a steep decline of 42% month-on-month and bringing a spectacular end to the on-month rises during April-May, according to data released by the U.S. Census Bureau under the Department of Commerce (DoC) on August 5. On a year-on-year basis, shipments from China during the same month also saw a sharp drop of 39%.

Market participants attributed the plunge in China's U.S.-bound steel exports to escalating trade tensions between Beijing and Washington, which have forced American buyers to turn to other trading partners for their steel or chase domestic supply. "The already-small share of Chinese products in U.S. steel imports has dwindled further," said