Steel Imports Trending Down in November

This early look at U.S. steel imports in November, projecting Commerce Department license data out through the end of the month, suggests that imports are trending down considerably.

Most of the difference is in imports of semifinished steel, on track to total less than 500,000 tons this month. This drop-off was to be expected following the jump in semifinished licenses in October totaling nearly a million tons. With imports of slabs from countries such as Brazil subject to quarterly quota limits, domestic mills were quick to secure raw material in October, the first month of the fourth quarter, in case the quota limits were reached in November or December.