U.S. steel imports drop in September

The United States imported 2.77 million net tons of steel in September, a month-over-month decline of 9.4 percent and a year-over-year drop of 29 percent.    The United States imported 2.77 million net tons of steel in September 2015, a decrease of 9.4 percent compared to August 2015 and a 29 percent drop from September 2014, according to the American Institute for International Steel (AIIS).
   Steel imports from Brazil and Japan experienced the largest month-over-month declines. The United States imported 374,000 net tons of steel from Brazil in September, 28 percent less than in August. From Japan, the U.S. imported a total of 201,000 net tons of steel during the month of September, a 17.5 percent decline from the previous month.
   Canada exported the most steel to the U.S. in September at 479,000 net tons, while the European Union exported 466,000 net tons to the U.S. during the month.
   Overall, for the first nine months of the year, U.S. steel imports stood at 30.84 million net tons, down 5.3 percent from the same period in 2014.
   “Since October 2014, the United States has reduced its monthly steel imports by about half, but this is not cause for domestic producers to celebrate,” AIIS said. “Total steel consumption in August, according to the U.S. International Trade Administration, was down almost 10 percent from August 2014, which was the mid-point of a strong third quarter for the economy. This suggests that companies are not building and expanding at the rate needed for healthy and sustained growth. All steel producers – foreign and domestic – are likely to continue to experience difficult times until some economic consistency and predictability return.”