Based on reported import licenses, US flat products imports fell 9% from 807,000 short tons in May, 2022 to 733,000 tons in May, 2023. Hot rolled imports fell by the highest volume with imports down from Canada, Mexico, South Korea and Japan. In contrast, cut plate imports rose with volumes up from Australia, Italy and Canada.
Flat products imports in the first five months of 2023 were 27% lower than in the same period last year with hot dip galvanized -33%, cold rolled -32%, hot rolled -25% and cut plate +14%
Worldsteel reported crude steel production in China at 92.6 million metric tonnes, 1.5% lower than in April, 2022. Chinese production in the first four months of 2023 was 3.2% higher than in the same period last year.
Data from China’s General Administration of Customs show April net finished steel exports (exports minus imports) rose 83% compared to April last year. Net finished steel exports in the first four months of 2023 were 82% higher than in the first four months of 2022.
China produced 92.6 million tonnes in April, accounting for 57% of world output and declining 1.5% on April, 2022. World crude steel production outside of China fell 3.6% on April, 2022. Significant declines outside China include Turkey (-20.6%), the US (-5.3%) and Japan (-3.1%).
Crude steel production in the first four months of 2023 was approximately 1% lower than in the same period last year.
Based on reported import licenses, US long products imports fell 17% from 385,000 short tons in April, 2022 to 319,000 tons last month. According to import licenses, wire rod imports showed the highest volume decline compared to other product categories due to lower imports from Germany, Algeria, India, Egypt and Mexico.
Long products imports in the first four months of 2023 were 23% lower than in the same period last year with wire rod showing the highest volume (-330,000 tons) and percentage (-47%) decline.
Based on reported import licenses, US flat products imports fell 30% from 826,000 short tons in April, 2022 to 577,000 tons in April, 2023. Hot dip galvanized imports fell by the highest volume with imports down from Vietnam, South Africa and Turkey. Hot rolled imports also fell significantly April-on-April from Canada, South Korea, and Mexico.
Flat products imports in the first four months of 2023 were also 30% lower than in the same period last year with hot dip galvanized -38%, cold rolled -36%, hot rolled -26% and cut plate +3%.
US flat products import licenses
January 2016 to April 2023
Short tons
Stacking packaged galvanized steel coils at Ternium Monterrey Mexico from Worldsteel Image Library
Worldsteel reported crude steel production in China at 95.7 million metric tonnes, 6.9% higher than in March, 2022. Chinese production in the first three months of 2023 was 5.0% higher than in the same period last year.
Data from China’s General Administration of Customs show March net finished steel exports (exports minus imports) rose 83% compared to March last year. Net finished steel exports in the first three months of 2023 were 82% higher than in the first three months of 2022.
