Steel Products Prices North America
Census: Finished Steel Imports Jumped 23% in March
Written by Brett Linton
April 27, 2021
Final Census data shows that finished steel imports rose 23% in March to 1.78 million tons, as more U.S. buyers sought relief from climbing domestic prices and limited supplies. This is the highest finished-steel import level seen since August 2019 when finished imports were 1.80 million tons.
Total steel imports were 2.29 million tons in March, up 21% month-over-month. Total April import licenses are currently at 2.13 million tons as of Census data through April 26, down 7% from March, but up 12% from February. For comparison, the average monthly import level for 2020 was 1.84 million tons, down from 2.32 million tons in 2019 and 2.81 million tons in 2018.
April finished steel import licenses are currently down 18% from March to 1.47 million tons, but up 1% over February.
Due to large month-to-month swings in semifinished imports, the chart below shows total monthly imports on a three-month moving average (3MMA) basis in an attempt to more accurately display the U.S. steel import trend. The 3MMA through preliminary March import data is 2.21 million tons, up from 1.94 million tons in February and up from 1.76 million tons in January. The March 3MMA is now the highest seen since September 2019.
The table below now includes other high-volume products in addition to our normal focus on flat rolled products; we now show a brief history on products such as rebar, tin plate, wire rod, structural pipe and tube, and other long products. We also provide data on categorized imports, divided into semifinished, finished, flat rolled, longs, pipe and tube, and stainless products.
The two charts below show monthly imports grouped by product category: flat rolled imports and pipe and tube imports. Both product groups showed gains in March, with flat rolled imports ramping up from January’s multi-year low and approaching levels not seen in over two years. Early April license data suggests a 23% decline in flat rolled imports and a 19% decline in pipe and tube imports.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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