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US steel coil imports decline

US steel coil imports in June 2024 showed a significant decrease compared to both the previous month and the same period last year.

US steel coil imports decline

US imports of steel coil in June 2024 showed a marked decrease compared to both the previous month and the same period last year. According to preliminary Census Bureau data from the US Department of Commerce (USDOC), steel coil imports fell by 23% to 72,000 tons in June. Compared to the same month last year, this decline reached 43%.

Steel coil imports from Canada, the largest source of imports, also fell by 7% month-on-month and 36.6% year-on-year to around 46,000 tons. Following Canada, other major import sources were Mexico, South Korea and the Netherlands. Around 8,600 tons of steel coils were imported from Mexico, 6,400 tons from South Korea and 4,900 tons from the Netherlands.

The total value of steel coils imported in June also fell sharply, down 24% from the previous month and 49% from the same period last year to around $67 million.

These data show that US demand for steel coils has contracted significantly and global trade conditions have become more challenging. The decline in imports from Canada, in particular, shows that trade is declining even with its northern neighbor.

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