U.S. steel imports have risen significantly at the start of the year, but overall volumes have remained far below those levels experienced in early 2015, according to the American Institute for International Steel.
U.S. steel imports have risen significantly at the start of the year, but overall the volumes have remained far below those levels experienced in early 2015, according to the American Institute for International Steel.
AIIS said steel imports in the United States increased 10 percent from December to January, reaching 2.58 million net tons, but remained 41.4 percent less than in January 2015.
Steel imports from Brazil showed the biggest bump, increasing nearly 76 percent to 339,000 net tons, which was still 53.6 percent less than a year earlier. Imports of this commodity from Mexico also increased 41.2 percent to 236,000 net tons, but 17.3 percent less than in January 2015, and imports from Canada grew by 12.5 percent to 488,000 net tons, nearly unchanged from a year earlier. South Korea shipped 240,000 net tons of steel to the United States in January, a 2.2 percent month-to-month increase, but a 71.3 percent decline from the previous January.
U.S. steel imports from the European Union countries were down the most at 28.6 percent to 336,000 net tons, less than half that of January 2015
“The 10 percent increase in imports was the largest month-to-month growth since a 16.8 percent spike one year earlier that put the monthly total at 4.25 million net tons. It was all downhill from there, though, as imports fell 18.5 percent in February, then continued to decline nearly every other month in 2015,” AIIS said.
“Ideally, the solid import growth to start the year indicates the beginning of a turnaround that will strengthen not just the steel import sector but the economy as a whole,” the trade association added.
Early 2016 U.S. steel imports still below the mark
