Slab volumes nudge US July steel imports up

US steel imports edged higher in July from the same year-earlier month, with increased volumes of slabs outweighing declines in coiled imports.

Imports totaled 2.75mn t in July, up by 1.3pc from the 2.71mn t imported in July 2018, according to preliminary figures from the Department of Commerce.

The slight rise came as imports of blooms, billets and slabs for July rose by 47pc to 1.07mn t from a year earlier.

Imports of hot-rolled sheets fell by 35pc to 144,000t, while cold-rolled sheet imports fell by 32pc to 119,000t. Hot-dipped galvanized sheets and strip imports fell by 18pc to 191,000t from a year earlier.

US imports from Brazil doubled to 911,000t in July from the same prior-year period, while imports from Russia fell by 51pc to 72,000t.

Total imports through June, the most recent month for which final data is available, declined by 13pc to 14.2mn t compared to 16.2mn t in the first six months of 2018.

US steel imports have declined in response to the 25pc Section 232 steel tariff that was imposed by President Donald Trump in March 2018. Some countries have been excluded from the tariffs, including Australia, Canada, and Mexico, while Argentina, Brazil, and South Korea have negotiated non-tariff import quotas.