Based on reported import licenses, US long products imports fell 21% from 359,000 short tons in February, 2022 to 285,000 tons last month. A drop in rebar and wire rod imports drove the decline. Rebar imports fell mainly from Algeria and Mexico while wire rod imports decreased mainly from Algeria, India, and Mexico.
Long products imports in the first two months of 2023 were 14% lower than in the same period last year with wire rod showing the largest volume (-104kt) and percentage decline (-36%).
Based on reported import licenses, US flat products imports fell 24% from 679,000 short tons in February, 2022 to 513,000 tons in February, 2023. Hot dip galvanized imports fell by the highest volume due to declines mainly from Turkey, the United Arab Emirates, and Vietnam. Cold rolled imports also fell significantly from Vietnam, Russia and Taiwan.
Flat products imports in the first two months of 2023 were 32% lower than in the same period last year with hot dip galvanized -37%, cold rolled -36%, hot rolled -30% and cut plate +3%.
China produced 79.5 million tonnes in January, accounting for 55% of world output and rising 2.3% on January, 2022. In other parts of Asia, Indian crude steel production fell 0.2% on last January, Japanese output fell 6.9%, as did South Korean output by 9.8%.
European Union crude steel production fell 15.2% on last January following a 10.2% decline in Germany. North American output fell 5.6% with US output down 6.8%. Other significant changes compared to last January include a 17.6% drop in Turkey and a 27.7% increase in Iran.
Based on reported import licenses, US flat products imports fell 35% from 1,038,000 short tons in January, 2022 to 672,000 tons in January, 2023.
The product category with the largest decline January-on-January was hot rolled, where imports fell by 42%, mainly from Canada, Japan, South Korea, Mexico, Serbia, and the Netherlands. Cold rolled imports fell by 40% following declines from Russia and Turkey, while hot dip galvanized imports fell 27% due to lower volumes from Vietnam, Turkey, and South Africa.
US flat products import licenses
January 2016 to January 2023
Short tons
Hot steel slab being rolled at Nucor Steel Berkeley in South Carolina from Worldsteel Image Library
Worldsteel reported crude steel production in China at 77.9 million metric tonnes in December, 9.8% lower than in December, 2021. Chinese crude steel output in 2022 was 1,013 million tonnes, 2.3% lower than in 2021. China accounted for 55% of world crude steel production in 2022.
Data from China’s General Administration of Customs show net finished steel exports (exports minus imports) in December at 4.7 million tonnes, 17% higher than in December, 2021. On a full-year basis, China’s 2022 net finished steel exports were 8% higher than in 2021.
Worldsteel published December, 2022 and full-year 2022 world crude steel production today. World steel output was 140.7 million metric tonnes in December, 10.8% lower than in December, 2021 for the 64 reporting countries. Full-year 2022 steel production including estimates of non-reporting countries was 1,878.5 million tonnes, 4.2% lower than in full-year 2021.
China produced 1,013 million tonnes of crude steel in 2022, accounting for 54% of world output. China’s production fell 2.1% between 2021 and 2022 while production in the rest of the world fell 6.5%. Asian output outside of China showed a 2.9% decline between 2021 and 2022 with India +5.5%, Japan -7.4% and South Korea -6.5%.
Crude steel production in the European Union 27 countries fell 10.5% between 2021 and 2022 with Germany output -8.4% and Italian production -11.6%. In North America, crude steel production fell 5.5% with production in the US -5.9%, in Canada -7.8%, and Mexico -1.6%.
Other significant changes in the top-10 world producing countries include declines in Russia (-7.2%), Turkey (-12.9%), and Brazil (-5.8%), but an increase in Iran (+8.0%).
