China produced 81.4 million tonnes this July, accounting for 55% of world output and falling 6.4% on July, 2021. In other parts of Asia, Indian crude steel production rose 3.2% but Japanese production fell 8.5% and South Korean production fell 0.6%.
European Union 27 countries production fell 6.7% with Germany, its largest producer, producing 2.0% less on last July. North American production fell 5.4% with US output down 6.4%. Other significant changes compared to last July include declines in Russia (-13.2%) and Turkey (-20.7%), and an increase in Iran (+34.1%).
Based on reported import licenses, US long products imports increased 22% from 319,000 short tons in July, 2021 to 388,000 tons last month. Wire rod imports rose by the largest volume compared to other long products categories following higher volumes from Algeria, Germany, Japan, and Malaysia. Rebar imports also rose significantly due to increases from Turkey.
Long products imports in the first seven months of 2022 were 39% higher than in the same period last year with the highest volume increases coming from wire rod (+61%) and rebar (+28%).
Based on reported import licenses, US flat products imports fell 9% from 819,000 short tons in July, 2021 to 749,000 tons in July, 2022. The decline was mainly due to lower hot dip galvanized imports from a number of countries including Canada, South Korea, Taiwan, and Austria. Hot rolled imports also dropped significantly from South Korea, Turkey, and Canada, but was partially offset by higher hot rolled imports from Mexico.
Based on January to June import licenses and July imports, US flat products imports in the first seven months of 2022 were 19% higher than in the same period last year with cold rolled +31%, hot dip galvanized +26%, hot rolled +12%, and cut plate +9%.
US flat products import licenses from Steel Import Monitor
January 2014 to July 2022
Short tons
Steel plate in storage at POSCO Pohang steel works, South Korea from Worldsteel Image Library
Worldsteel reported crude steel production in China at 90.7 million metric tonnes in June, 3.3% lower than in June, 2021. Chinese production in the first six months of 2022 were 6.5% lower than in the same period last year.
Data from China’s General Administration of Customs show China’s net finished steel exports (exports minus imports) at 6.8 million tonnes, 30.0% higher than in June, 2021. Net finished steel exports over the first six months of 2022 were 7.8% lower than in the first six months of 2021.
China monthly crude steel production
Thousand metric tonnes
The interior of the blast furnace facility at HBIS Tangsteel, China from Worldsteel Image Library
China produced 90.7 million tonnes this June, accounting for 57% of world output and falling 3.3% on June, 2021. In other parts of Asia, Indian crude steel production rose 6.3% but Japanese production fell 8.1% and South Korean output fell 6.0%.
European Union 27 countries production fell 12.2% following a 7% decline in Germany. North American production fell 2.4% with US output down 4.2%. Other significant changes compared to last June include a 22.2% decline in Russia, a 13.1% drop in Turkey, and a 10.8% drop in Iran.
Hot steel slab being rolled at Nucor Steel Berkeley, South Carolina, from Worldsteel Image Library
Based on reported import licenses, US long products imports dropped 2% from 344,000 short tons in June, 2021 to 338,000 tons last month. Rebar imports fell by the largest volume compared to other long products categories following lower rebar imports from Spain and Italy, and despite a significant rise from Algeria. Wire Rod imports also fell significantly, though higher parallel flange sections imports from countries including Mexico, South Korea, the United Arab Emirates and Luxembourg partially offset the increase from rebar and wire rod.
Long products imports in the first six months of 2022 were 40% higher than in the same period last year with the highest volume increases coming from wire rod (+69%) and rebar (+25%).
US long products import licenses
January 2015 to June 2022
Short tons
Rebar reinforcements for the stairs at the 47th Street exit from the new LIRR Concourse (New York), May 2019 by MTA Capital Construction Mega Projects, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
