Steel Products Prices North America

Preliminary May Imports Down, June Licenses Trending Up

June 29, 2021

Preliminary Census data shows that total foreign steel imports declined 5% from April to May to 2.51 million tons. Although down from the month prior, recall that April saw the highest total monthly import level since July 2020, when imports were 2.71 million tons.

June import licenses through the 28th are at 2.76 million tons, already up 10% from May (even though data for June is not yet complete), and up 4% over April. 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.

Total finished steel imports were at 1.85 million tons in May, the highest level seen since May 2019. Finished steel import licenses for June are currently at 1.86 million tons.

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 U.S. steel import trends. The 3MMA through preliminary May import data is 2.49 million tons, up from 2.28 million tons in April and up from 2.21 million tons in March. The lowest 3MMA level in our recent history was October 2020 at 1.36 million tons. The May 3MMA is now the highest seen since May 2019. Looking into the current license data, the June 3MMA would be even higher at 2.64 million tons, which would be the highest level seen since April 2019.

The table below displays flat rolled product imports as well as other high-volume products, including 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. Flat rolled imports surged to a multi-year high in May to 1.02 million tons, with the latest June licenses at 925,000 tons. Pipe and tube imports rebounded to 328,000 tons in May, and June licenses appear to be up as well at 378,000 tons (the 2020 high was 436,000 tons in March).

By Brett Linton, Brett@SteelMarketUpdate.com

Brett Linton

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.