Based on reported import licenses, US flat products imports rose 12% from 738,000 short tons in May, 2023 to 825,000 tons in May, 2024. The increase was mainly due to higher hot dip galvanized imports from Vietnam, where hdg import licenses in May 2024 reached 67,000 short tons. In contrast, hot rolled imports fell by 19% on last May, mostly due to lower imports from Canada.
US flat products imports in the first five months of 2024 were 24% higher than in the same period last year. Comparing the first five months of 2023 to 2024, imports rose for cut plate by 22%, for hot rolled by 6%, for cold rolled by 35%, and for hot dip galvanized by 44%.
Worldsteel reported crude steel production in China at 85.9 million metric tonnes in April, 7.2% lower than in April, 2023. Chinese production in the first four months of 2024 was 4.9% lower than in the same period last year.
Data from China’s General Administration of Customs show net finished steel exports (exports minus imports) in April at 8.6 million tonnes, 17% higher than in April, 2023. Finished steel exports in the first four months of 2024 were 28% higher than in the first four months of 2023.
China monthly crude steel production, January, 2010 to April, 2024
Thousand metric tonnes
Dinghai Bridge while under construction (2015), Hainan, China by Anna Frodesiak, CC0, via Wikimedia Commons
What are some of the most promising new technologies that will allow the decarbonization of steel production?
Irina Gorbounova, VP President M & A and Head of the ArcelorMittal XCarb Innovation Fund discusses ArcelorMittal’s decarbonization goals and XCarb’s investments in Episode 13 of The Green Steel Challenge podcast, released today. Energy supply/storage, carbon re-use, and co-operation with other high-emitting industries are important topics.
The podcasts are produced by the Korf Foundation and Kallanish Commodities and the discussion is all about how exactly we can deliver Green Steel.
China produced 85.9 million tonnes in April, accounting for 55% of world output and declining 7.2% compared to April, 2023. Asian production outside China accounted for 19% of world production and fell 1.4% on last April, mainly due to a 10.4% production decline in South Korea.
North American production fell 5.2% following a 2.8% decline in the US, and Middle East production fell 8.2% following a 12.3% drop in Iran.
“A train carrying what seems to be an unlimited number of coils rolls into downtown Springfield, MO” by Doug Wertman from Rogers, AR, USA, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
Based on reported import licenses, US long products imports rose 18% from 358,000 short tons in April, 2023 to 421,000 tons in April, 2024. The rise was mainly due to higher rebar imports, with volumes increasing from Oman, Algeria, Germany, Greece and Canada. Interestingly, rebar imports fell by 11% compared to last April, but this was because the decline in Algerian imports was mostly offset by a rise in Egyptian imports.
US long products imports in the first four months of 2024 were 6% higher than in the same period last year. The increase was mainly due to higher wire rod imports, which were partially offset by lower rebar imports.
In Episode 12 of The Green Steel Challenge, Gunnar Groebler, CEO of Salzgitter Group in Germany, tells us all about how Salzgitter developed its transition strategy to decarbonize steelmaking production by 2033. The decision-making process started in 2016, they started construction in 2022, and they’re clearly a European leader in replacing blast furnaces with DRI production and electric arc furnaces.
The podcasts are produced by the Korf Foundation and Kallanish Commodities and the discussion is all about how exactly we can deliver Green Steel. Tune in!
