U.S. steel imports fell in July

U.S. steel imports dropped 5 percent from July to 3.67 million net tons in August, according to the AIIS.    U.S. steel imports fell 5 percent from July to 3.67 million net tons in August, according to the American Institute for International Steel. 
   “Imports from South Korea and Brazil showed the biggest declines, with the former falling nearly 24 percent to 450,000 net tons and the latter dropping more than 29 percent to 312,000 net tons,” the association said. 
   From the NAFTA countries, Canadian imports were down 5.7 percent to 497,000 net tons, while Mexican imports were up 11 percent to 326,000 net tons. Imports from the European Union fell 8.2 percent to 583,000 net tons.
   However, the year-to-date import total was up 35.5 percent compared to the first eight months of 2013 to total 28.63 million net tons. Imports from Russia increased 243 percent, year-over-year, while the United States bought 46-percent more steel from South Korea. Imports from the European Union were up 41.4 percent, Mexico 10.7 percent and Canada 8 percent, AIIS reported.
   AIIS warned the decrease in U.S. steel imports from South Korea in August may be repeated in coming months. On Aug. 22, the U.S. International Trade Commission confirmed a Commerce Department ruling that found South Korean companies had sold oil country tubular goods in the United States at what it considered to be less than fair value prices. As a result, duties are to be imposed on steel products from that country.