DoC: U.S. steel imports hit a 15-month high in August

The value of August steel imports reached $2.11 billion, up 6.2% from July and 14.4% above the year-earlier level, the data shows.

The rise in import volumes reflects firmer buying interest among American buyers as domestic prices stayed high, according to industry sources. Distributors also reported tight availability of import cargoes amid stronger demand.

By product, U.S. steel imports rose notably in hot rolled sheets, blooms, billets and slabs, and cut-to-length plates, while those of oil country goods, reinforcing bars, and line pipe greater than 16 inches in diameter tapered off.

U.S. imports of hot rolled sheets leapt 63.5% month on month to 137,448 tonnes. Imports of blooms, billets and slabs gained 14.9% on month to 732,447 tonnes, and those of cut-to-length plates surged 77.3% from July to 49,341 tonnes.

In contrast, imports of OCTG slumped 24.6% on month to 114,646 tonnes, and those of rebars fell sharply by 20.9% to 88,878 tonnes. Imports of line pipe greater than 16 inches in diameter dived 23.3% to 59,347 tonnes.

By source, U.S. steel imports rose notably from Brazil, Mexico, and India, while those from South Korea, Taiwan, the Chinese mainland, and Australia declined.

Shipments from Brazil jumped 38.8% on month to stand at 318,672 tonnes in August, while those from Mexico gained 31.9% to 230,093 tonnes and India soared 59.2% to 76,599 tonnes.

In contrast, imports from South Korea dropped significantly by 22.9% on month to 388,895 tonnes, and those from Taiwan plunged 35.7% to 42,333 tonnes. Imports from the Chinese mainland slid 34.3% to 28,339 tonnes, and those from Australia tumbled 75.5% to 6,496 tonnes, according to DoC statistics.

Written by Tiffany Hou, houtianhui@mysteel.com

Edited by Russ McCulloch, russ.mcculloch@mysteel.com