DoC: U.S. steel imports rise slightly MoM in February

U.S. steel imports edged up to around 1.53 million tonnes in February, an increase of 26,753 tonnes or 1.8% from January but a decline of 509,773 tonnes or 25% from a year earlier, according to data released by the U.S. Census Bureau under the Department of Commerce (DoC).

The import value stood at $1.48 billion, down 3.9% month on month and 36% year on year, according to Mysteel calculations based on DoC data. The average import price fell to $967/tonne, marking a 5.6% decline from January.

The modest monthly increase in total steel imports by the United States masked sharp divergences among major suppliers. U.S. steel imports from Japan surged 238.5% month on month to 128,497 tonnes in February, driven by a 55% on-month plunge in average import price to $929.5/t.

Imports from Brazil rose 39.4% from January to 223,690 tonnes, with the average import price edging down 3.1% to $570.4/t.

By contrast, U.S. imports from Mexico fell 25.4% month on month to 159,192 tonnes, the DoC data show. The sharpest decline came from Taiwan, where imports plunged 52% on month to 31,675 tonnes. Shipments from the Chinese mainland continued to shrink, falling 19% from January to just 20,766 tonnes – a clear sign that trade barriers are taking a heavy toll, Mysteel Global notes. The average price of Chinese-origin steel stood at $1,386/t, down 10% from January.

The 5.6% monthly drop in the average import price to $967/t suggests that cheaper steel is entering the U.S. market, potentially challenging domestic mills' ability to maintain high prices, Mysteel Global observes.

Steel prices in the United States remain stubbornly elevated, supported by an increasingly sophisticated web of trade barriers, analysts note. The February data also suggest that while total import volumes are stable, the geographic composition of U.S. steel supply is shifting rapidly – a trend likely to continue as trade policy remains a central tool for protecting domestic steelmakers.

Source:Mysteel Global