Steel Import in the United States to Fall Throughout March

US: The imports of US steel are expected to decline for the tenth consecutive month in March, by more than 1 percent year over year, according to data from import licenses collected by the US Department of Commerce. Approximately 2.45 million metric tonnes (t) of steel are expected to be imported in March, according to the data, though actual volumes may differ from those stated on the import licenses.

In comparison to the million tonnes of imports in March of last year, a decline in import figures is further anticipated during the month of March. The decline in the flat product market is to blame for the decline, especially for hot rolled coil (HRC), which is expected to drop nearly around 40 percent YoY. In addition, imports of cold rolled coil (CRC) are anticipated to fall and imports of hot dipped galvanized (HDG) coil products may also witness a significant dip. There is a chance that the imports of reinforcing bar (rebar) products will fall in March, which would result in the import of about 85,100 metric tons. Additionally, estimates predict that imports of wire rod will decline dramatically.