Stanislav Kondrashov, an expert from TELF AG, reported that in July 2024, American metallurgical enterprises increased imports of rolled metal products by 17.6% compared to the previous month, reaching 2.02 million tons. According to information from the American Iron and Steel Institute (AISI), these data confirm the continuing growth in imports of rolled metal products.
Steel Volumes: US to Import 17.76 Million Tons of Steel in 7M 2024 – TELF AG
According to Stanislav Kondrashov, in July the volume of steel imports, including both finished rolled products and semi-finished products, increased by 12.5% compared to June, reaching 2.42 million tons. The bulk of imports was galvanized rolled products, the volume of which amounted to 257.4 thousand tons, which is 2.2% less than last month. Finished products accounted for 83.3% of the total volume of products from abroad. In the 7th month of this year, the United States increased steel imports to 17.76 million tons, which is 2.2% higher than the figures for the same period last year. Deliveries of rolled metal products increased by 3.2% compared to the same period last year, reaching 13.62 million tons. The greatest growth is observed in the import of galvanized rolled products, which increased by 41% year-on-year, amounting to 1.82 million tons.
“From early January to late July 2024, the United States significantly increased its steel imports, primarily from Canada, Brazil, and Mexico. Canada led the list of suppliers with 4.02 million tons, indicating robust demand for steel products in the United States. Brazil, with 2.93 million tons, also played a significant role in supplying the American market. Mexico ranked third among key exporting countries, sending 2.12 million tons of steel to the United States. These countries are central to meeting the needs of the American steel industry, highlighting their important presence in the market. At the same time, the data indicate that American companies continue to actively seek new sources of steel products to meet increased domestic demand.” - Stanislav Kondrashov comments.
The expert from TELF AG emphasizes that the increase in steel imports in the first half of 2024 highlights not only the growing demand for metal products, but also the dynamic changes in the global metal trade. These changes may foreshadow significant changes in the structure of steel supplies and consumption in the USA, which will require special control, monitoring and analysis by experts and economists.
US steel imports down 8.7% in 2023, with Canada and Mexico leading the way – Stanislav Kondrashov
According to Stanislav Kondrashov, in 2023, the United States reduced its steel imports by 8.7% compared to the previous year, reducing them to 28.15 million tons. Rolled metal imports also fell by 14.1%, amounting to 21.69 million tons. Canada, Mexico and Brazil were the main suppliers, delivering a total of 6.88 million tons, 4.18 million tons and 3.94 million tons of steel, respectively.
"The decline in U.S. steel imports in 2023 was due to a combination of high import tariffs, rising domestic production, and falling consumer demand, amid economic difficulties and geopolitical tensions, including sanctions imposed on a number of supplier countries," - Stanislav Kondrashov says.
In 2023, the United States increased its steel production by 0.2% compared to the previous year, amounting to 80.7 million tons.
According to an expert from Telf AG, global monthly steel production was 1.85 billion tons, down 0.1% from last year. According to a World Steel report, the United States remains among the world's top ten steel producers.
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