This morning in metals, steel imports rose in March, global steel output was also up in March and miner Antofagasta reported a 10.5% drop in production in Q1.
U.S. Steel Imports Jump in March
Citing U.S. Census Bureau data, the American Iron and Steel Institute (AISI) reported the U.S. imported a total of 3,327,000 net tons (NT) of steel in March 2018, including 2,480,000 net tons (NT) of finished steel (up 34.2% and 23.0%, respectively, vs. February final data).
Through three months of 2018, total and finished steel imports are 8,690,000 and 6,831,000 net tons (NT), down 3.0% and 1.7%, respectively, vs. the same period in 2017.
The finished steel import market share was an estimated 26% in March, up from the estimated 25% in the year to date.
Global Steel Output Rises 4% in March
The world produced more steel in March, Reuters reported.
Global steel output rose 4% last month, powered by lifted winter cuts in China and U.S. steel producers enjoying a post-Section 232 boost, Reuters reported.
Antofagasta Production Slides in Q1
Miner Antofagasta, which operates primarily in Chile, announced its Q1 production dropped 10.5%, Reuters reported.