This morning in metals news, U.S. steel import permit applications surged in October, U.S. Steel has laid off workers at its Granite City operation and Port Hedland iron ore shipments to China dropped in October.
Steel Import Permit Applications Surge
U.S. steel import permit applications for October jumped 34.6% compared with the September final import total, the American Iron and Steel Institute (AISI) reported this week.
Import permit applications for October totaled 2.56 million tons, according to AISI.
Meanwhile, steel import market share in October checked in at 17%.
U.S. Steel Lays Off Workers at Granite City
On the heels of news of layoffs at U.S. Steel’s taconite operations in Minnesota, the steelmaker has reportedly also laid off an unspecified number of nonunion workers at its Granite City, Illinois operation, the Belleville News-Democrat reported.
The Granite City operation famously received a boost after the Trump administration’s imposition of Section 232 tariffs on imported steel. Previously idled, in March and June of 2018, U.S. Steel announced it would restart two blast furnaces at the plant, welcoming back approximately 800 workers in the process.
Port Hedland Iron Ore Exports to China Drop in October
Exports of iron ore to China from Australia’s Port Hedland fell in October, Reuters reported.
On a month-over-month basis, iron ore exports to China from the major port dropped 0.7% in October.