U.S. steel imports reached an estimated 2.6 million metric tons in June, the Census Bureau reported today.
The total marked a jump of 13% from the 2.3 million metric tons the U.S. imported in May.
US steel imports rise
Furthermore, through May, U.S. steel imports totaled 10.7 million metric tons, up 7% from 10.0 million through the first five months of 2020.
Pacing the June rise was a jump in imports of blooms, billets and slabs. Imports of the category reached 795,863 metric tons in June, up 31.7% from 604,340 metric tons in May. Meanwhile, the June total rose a whopping 1,000% compared with June 2020.
Imports of oil country goods jumped 35.2% from May to 154,073 metric tons in June.
In addition, imports of hot rolled sheets jumped by 50.7% to 311,461 metric tons in June. Imports of steel rebar rose 12.0% to 94,915 metric tons.
Declines in HDG sheets, tin plate
Meanwhile, imports of hot dipped galvanized sheets and strips fell 19.5% from May to 177,925 tons in June.
Imports of tin plate fell 35.5% to 65,412 metric tons.
Imports rise from USMCA partners
Broken down by country, imports from Canada rose by 6.4% to 579,405 metric tons in June.
Furthermore, imports from Mexico rose by 35.8% to 379,379 metric tons.
Meanwhile, import from Europe jumped 17.7% to 692,171 metric tons.
Steel price gains
As MetalMiner’s Don Hauser noted recently during a ROTH Capital Partners webinar, relief for U.S. steel buyers this year might have to come simply in the form of a flattening of prices (as opposed to an outright retrenchment).
For now, however, prices continue to rise.
U.S. hot rolled coil closed last week at $1,810 per short ton, up by 7.93% month over month. Meanwhile, cold rolled coil remains at a premium to HRC. CRC closed last week at $1,997 per short ton, or up 6.51%, according to MetalMiner Insights data.
U.S. hot dipped galvanized closed at $2,121 per short ton, or up 6.58% month over month.
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