Based on reported import licenses, US long products imports fell 10% from 359,000 short ton in July, 2023, to 321,000 tons in July, 2024. The decline was mainly due to lower rebar imports from Egypt, Algeria, Mexico and Spain. Wire rod imports rose, however, following higher volumes from Algeria.
US long products imports in the first seven months of 2024 were 1% lower than in the same period last year with a decline in rebar imports (-31%) offsetting an increase in wire rod imports (+31%) and parallel flange sections imports (+24%).
US long products import licenses
January 2018 to July 2024
Short tons
Installing rebar for the walls and base slab for the final tunnel approach structure currently being built in Harold Interlocking by MTA Capital Construction Mega Projects, 2018, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
Based on reported import licenses, US flat products imports rose 16% from 652,000 short tons in July, 2023 to 753,000 tons in July, 2024. The increase was mainly due to higher hot dip galvanized imports from a number of countries including Brazil, South Korea, and Vietnam.
US flat products imports in the first seven months of 2024 were also 16% higher than in the same period last year with hot dip galvanized +42%, cold rolled +26%, cut plate +10%, and hot rolled -2%.
Worldsteel reported crude steel production in China at 91.6 million metric tonnes in June, 0.2% higher than in June, 2023. Chinese production in the first six months of 2024 was 2.7% lower than in the same period last year.
China’s General Administration of Customs reports net finished steel exports (exports minus imports) in June at 8.2 million tonnes, 18% higher than in June, 2023. Finished steel exports in the first six months of 2024 were 24% higher than in the first six months of 2023.
China monthly crude steel production
January, 2010 to June, 2024
Thousand metric tonnes
Lupu Bridge at 2010 Shanghai Expo from Denmark Pavillion by Dingyuang, CC BY 3.0 <https://creativecommons.org/licenses/by/3.0>, da Wikimedia Commons
China produced 91.6 million metric tonnes in June, accounting for 57% of world output and rising 0.2% compared to June, 2023. Asian output outside of China, which now accounts for 18% of world output, rose 0.3% on last June due to increasing production in India (+6.0%), which was offset by declines in Japan (-4.2%) and South Korea (-7.2%).
North American production fell by 1.9% on last June following a 1.5% drop in the US. European Union 27 output rose 5.1% with German production up 8.9%.
Casting and cutting steel bars at TenarisTamsa, Mexico, from Worldsteel Image Library
Based on reported import licenses, US long products imports fell 29% from 401,000 short tons in June, 2023 to 286,000 tons in June, 2024. The decline was mainly due to lower rebar imports from Algeria, Egypt, Turkey and Mexico. In contrast, parallel flange sections imports rose significantly from Spain and the United Arab Emirates.
US long products imports in the first six months of 2024 were 4% higher than in the same period last year with a decline in rebar imports (-24%) offsetting a rise in wire rod imports (+31%) and parallel flange imports (+38%).
US long products import licenses
January 2018 to June 2024
Short tons
Positioned post-tensioning cables by Shakespeare at English Wikipedia, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons
Based on reported import licenses, US flat products imports fell 7% from 769,000 short tons in June, 2023 to 717,000 tons in June, 2024. The decline was mainly due to lower hot rolled imports from South Korea, which was partially offset by higher hot dip galvanized imports from Vietnam, the United Arab Emirates, Brazil and South Korea.
US flat products imports in the first six months of 2024 were 18% higher than in the same period last year with hot dip galvanized +43%, cold rolled +30%, cut plate +8%, and hot rolled -1%.
US flat products import licenses
January 2016 to June 2024
Short tons
Sheet steel being rolled at HBIS Tangsteel from Worldsteel Image Library
Positioned post-tensioning cables by Shakespeare at English Wikipedia, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons
