U.S. steel imports fall in February

Imports of U.S. steel dropped 18.5 percent to 3.58 million net tons between January and February, according to the American Institute for International Steel.    U.S. steel imports dropped 18.5 percent to 3.58 million net tons between January and February, according to the American Institute for International Steel.
   However, the trade group noted that February’s figure is still 9 percent higher than during the same month in 2014.
   According to AIIS, the United States imported 544,000 net tons of steel from the European Union, almost 23 percent less than in January, but 4.7 percent more than last February.
   During the same month, South Korea exported the most steel to the United States at 480,000 net tons, or 42.6 percent less than the previous month, but 23.5 percent more than a year earlier, while imports from Brazil and Canada were almost equal at 454,000 net tons and 451,000 net tons, respectively. 
   “Compared to February 2014, Brazil was down 7.2 percent, while Canada was up 7.6 percent. Imports from Russia increased by nearly 150 percent from January to 281,000 net tons – though this was nearly one-third less than a year earlier – while 264,000 net tons of imports from China were almost a third higher than the January total and nearly 50 percent more than last February’s number,” AIIS said.
   The trade group called the steep decline in February steel imports “somewhat surprising,” adding that the United States has been “economically healthier than many other parts of the world, of late, and the U.S. dollar is exceptionally strong, all of which generally bodes well for imports.”