US steel imports set to extend drop in March

US steel imports are poised to fall in March by 13pc from a year earlier, the 10th straight monthly drop.

US steel imports in March declined to around 2.45mn metric tonnes (t), according to import license data from the US Department of Commerce. Licenses are filed with the intent of importing, but actual volumes can fluctuate.

March imports would be down from 2.81mn t imported in March 2022.

Driving the decline are flat products like hot rolled coil (HRC), which are set to fall by 40pc on the year to 145,500t. Imports of hot dipped galvanized (HDG) coil products could drop by 42pc to 166,600t, while cold rolled coil (CRC) imports are poised to fall by 42pc to 90,800t.

Imports of reinforcing bar (rebar) products could fall by 42pc to 85,100t in March. Wire rod imports are set to plunge by 73pc to 45,400t.

By Rye Druzin