AIIS: U.S. steel imports in July post monthly increase

The United States boosted steel import volumes 12.3 percent month-over-month in July to 3.17 million net tons, thanks to a surge in steel imports from Brazil.    The United States imported 3.17 million net tons of steel in July, a 12.3 percent increase from June but a 3.5 percent decline from July 2015, according to the American Institute for International Steel (AIIS).
   Steel import volumes rose from June thanks to a 77 percent month-over-month increase in steel imports from Brazil, which totaled 506,000 net tons. This is especially good news for Brazil, which is currently in an economic crisis.
   For the first seven months of 2016, the U.S. imported 18.88 million net tons of steel, a 24.5 percent year-over-year decline.
   In regards to the first seven months of the year, AIIS said, “Imports from the European Union fell by a third to 2.61 million net tons, from South Korea by nearly 30 percent to 2.37 million net tons, from Brazil by 20.6 percent to 2.57 million net tons, and from Canada by 4.2 percent to 3.3 million net tons.”