Based on reported import licenses, US flat steel products imports rose 4% from 707,000 short tons in September, 2023 to 732,000 tons in September, 2024. The increase was mainly due to higher hot dip galvanized imports from Vietnam, which were heavily offset by lower hot rolled imports from South Korea, Japan, and Mexico.
US flat products imports in the first nine months of 2024 were 14% higher than in the same period last year with hot dip galvanized +44%, cold rolled +29%, cut plate -1%, and hot rolled -7%.
US flat products import licenses
January 2016 to September 2024
Short tons
Steel rolls on a freight train stopped at Junee Railway Station (New South Wales, Australia), 2017, by Bidgee, CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0, via Wikimedia Commons
Worldsteel reported crude steel production in China at 77.9 million metric tonnes in August, 10.4% lower than in August, 2023. Chinese production in the first eight months of 2024 was 4.5% lower than in the same period last year.
China’s General Administration of Customs reported net finished steel exports (exports minus imports) in August at 9.0 million tonnes, 17.6% higher than in August, 2023. Finished steel exports in the first eight months of 2024 were 22.8% higher than in the first eight months of 2023.
Worldsteel published August, 2024 world crude steel production today. World crude steel output in August was 144.8 million metric tonnes, 6.5% lower than in August, 2023.
China produced 77.9 million tonnes in August, accounting for 54% of world output and falling 10.4% compared to August, 2023. Asia and Oceania output outside of China, which now accounts for 19% of world output, fell 0.9% on last August due to declining production in Japan (-3.9%) and South Korea (-2.2%), despite and increase in India (+2.6%).
North American production fell by 3.8% on last August, though US output rose 0.7%. European Union production rose 2.2% with German output up 0.5%. Other significant changes year-on-year include a 11.5% decline in Russia and a 13.8% increase in Turkey.
Based on reported import licenses, US long products imports fell 32% from 381,000 short tons in August, 2023 to 257,000 tons in August, 2024. The decline was mainly due to lower rebar imports from Algeria, but also from Egypt and Vietnam.
US long products imports in the first eight months of 2024 were 4% lower than in the same period last year with a decline in rebar imports (-35%) offset by an increase in wire rod imports (+23%) and parallel flange sections imports (+37%).
Based on reported import licenses, US flat products imports rose 12% from 645,000 short tons in August, 2023 to 725,000 tons in August, 2024. The increase was mainly due to higher hot dip galvanized imports from Vietnam. Colled rolled imports also increased significantly from Taiwan, Sweden, Vietnam and Mexico.
US flat products imports in the first eight months of 2024 were 16% higher than in the same period last year with hot dip galvanized +44%, cold rolled +30%, cut plate +4%, but hot rolled -4%.
US flat products import licenses
January 2016 to August 2024
Short tons
Steel plate in storage at POSCO Pohang Steelworks, South Korea from Worldsteel Image Library
Worldsteel reported crude steel production in China at 82.9 million metric tonnes in July, 9.0% lower than in July, 2023. Chinese production in the first seven months of 2024 was 3.6% lower than in the same period last year.
China’s General Administration of Customs reports net finished steel exports (exports minus imports) in July at 7.3 million tonnes, 21% higher than in July, 2023. Finished steel exports in the first seven months of 2024 were 24% higher than in the first seven months of 2023.
China monthly crude steel production
January, 2010 to July, 2024
Thousand metric tonnes
Changshou Yangtze River Bridge construction, 2007, by Scott Weston from Stourbridge, West Midlands, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
