The American Iron and Steel Institute (AISI) reported that U.S. steel mills shipped 7,160,731 net tons in July, remaining unchanged from 7,152,135 net tons in June. However, this represents a 4,1% decrease compared to the 7,467,446 net tons shipped in July 2023. Year-to-date shipments for 2024 reached 50,920,412 net tons, reflecting a 3,9% drop from 52,983,292 net tons shipped during the same period in 2023.
A breakdown of product shipments year-to-date in 2024 compared to 2023 reveals that cold rolled sheet shipments increased by 4%. In contrast, corrosion-resistant steel shipments decreased by 2%, and hot rolled steel shipments fell by 5%.
Meanwhile, the U.S. Department of Commerce reported a 10% rise in steel imports in July 2024 compared to June, reaching 2,2 million tonnes. The value of these imports amounted to $2,7 billion, up from $2,4 billion in June. However, import levels remained unchanged compared to July 2023, when they were valued at $3,0 billion.
The top five sources of steel imports to the U.S. in July 2024 were Canada with 489,023 tonnes, Brazil with 374,701 tonnes, South Korea with 181,974 tonnes, Mexico with 148,186 tonnes, and Japan with 128,484 tonnes.
Additionally, imports of semi-finished products in July totaled 352,251 tonnes, compared to 381,854 tonnes in June and 475,113 tonnes in July 2023. Flat-rolled product imports saw a significant rise, totaling 950,587 tonnes in July, up from 806,251 tonnes in June and 739,154 tonnes in July 2023. Imports of long products reached 485,387 tonnes in July, an increase from 310,089 tonnes in June and 450,408 tonnes in July 2023. Pipe imports, however, dropped to 308,174 tonnes in July, down from 378,153 tonnes in June and 404,341 tonnes in July 2023.
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