U.S. steel imports drop slightly in December

Steel imports in the U.S. fell 2 percent to 3.62 million net tons in December, marking the second straight monthly decrease.    According to the American Institute for International Steel, U.S. steel imports fell 2 percent to 3.62 million net tons in December, marking the second straight monthly decrease.
   This followed an 18.2 percent drop in November. December imports were still 44.4 percent higher than they were a year earlier, the trade group said.
   The most notable decrease in imports came from South Korea, which dropped off 10.6 percent from November to 418,000 net tons, while Russia had the most significant increase – 28.7 percent, to 376,000 net tons, which was more than double the volume for December 2013.
   Canadian steel shipments to the United States for December were up 3.4 percent to 487,000 net tons, Brazil 7.2 percent to 430,000 net tons, and Mexico 2.3 percent to 270,000 net tons. Imports from the European Union decreased 5.2 percent to 677,000 net tons, while imports from Japan rose almost 16 percent to 225,000 net tons.
   For 2014, imports of 44.32 million net tons were 37.8 percent higher than they were in 2013, AIIS noted.
   “We may see some significant changes in the U.S. energy sector in 2015, though, as falling oil prices lead companies to roll back drilling and fracking projects, reducing the demand for oil country tubular goods and line pipe,” the trade group said. “This could mean that the downward trend in steel imports that started in November will continue, and, when combined with weak demand outside the United States, this has the potential to push down the global price of steel this year.”