What are the top U.S. steel imports?
- In the U.S., the 5 top steel imports are flat products, long products, pipe and tube, semi-finished slabs, and stainless steel. Most are brought in from Canada, Brazil, and Mexico, the top three U.S. import sources. In 2019, the U.S. imported 26.3 million metric tons of steel products.
How do steel imports affect the market?
- Imports are important to maintaining the health of the domestic market. In a tight supply market imports can help support the supply chain by filling in gaps. There are also products that the U.S. does not manufacture domestically, so imports are vital in those situations. In recent years the U.S. has implemented import polices that ensure the U.S. steel industry is being supported by global steel, without undermining domestic production. Section 232 – the addition of tariffs and quotas is a prime example of these policies.
What should you do?
- Watch for the amount of imports that come into the country in relation to domestic production, global production, and consumption of raw steel materials. This will help to see the bigger picture of domestic and global availability and where imports can come from. Majestic’s CORE Report tracks monthly imports and global steel production; along with other indicators every week to see where the market stands.