Based on reported import licenses, US flat products imports rose 15% from 575,000 short tons in November, 2023 to 661,000 tons in November, 2024. The increase was mainly due to higher hot dip galvanized imports from Vietnam, Taiwan, and the United Arab Emirates, as well as higher cold rolled imports from Vietnam.
US flat products imports in the first eleven months of 2024 were 14% higher than in the same period last year with hot dip galvanized +41%, cold rolled +31%, cut plate -4%, and hot rolled -7%.
Worldsteel reported October crude steel production in China at 81.9 million metric tonnes, 2.9% higher than in October, 2023. Chinese production in the first ten months of 2024 was 4.0% lower than in the same period last year.
China’s General Administration of Customs reported net finished steel exports (exports minus imports) in October at a record 10.6 million tonnes, 46% higher than in October, 2023. Net finished steel exports in the first ten months of 2024 were 26% higher than in the first ten months of 2023.
Worldsteel published October, 2024 world crude steel production today. World crude steel output in October was 151.2 million metric tonnes, 0.4% higher than in October, 2023.
China produced 81.9 million tonnes in October, accounting for 54% of world output and rising 2.9% compared to October, 2023. Asia and Oceania output outside of China, which now accounts for 19% of world output, fell 4.5% on last October due to declining production in South Korea (-18.3%) and Japan (-7.8%).
North American production fell 3.6% on last October following a 2.0% decline in the US. European Union production rose 5.7% with German output up 14.7%. Other significant changes year-on-year include higher output in Brazil (+16.2%) and a decline in Russia (estimated -15.2%).
BSW GmbH, Badische Stahlwerke, Kehl, Germany 20.04.2016. Unloading steel scrap to be recycled in an electric arc furnace from Worldsteel Image Library
Based on reported import licenses, US long products imports fell 25% from 344,000 short tons in October, 2023 to 256,000 tons in October, 2024. The decline was due to lower rebar, parallel flange sections, and wire rod imports. Comparing October, 2024 import licenses to last October’s imports, rebar volumes fell mainly from Egypt and Bulgaria, while parallel flange sections volumes declined from Spain, Luxembourg, and Germany, and finally, wire rod volumes dropped from Algeria.
US long products imports in the first ten months of 2024 were 6% lower than in the same period last year with a decline in rebar imports (-34%) offset by an increase in wire rod imports (+21%) and parallel flange sections imports (+18%).
Based on reported import licenses, US flat steel products imports rose 14% from 650,000 short tons in October, 2023 to 744,000 tons in October, 2024. The increase was mainly due to higher hot dip galvanized imports from Vietnam, Brazil and South Korea, as well as higher cold rolled imports from Australia. Higher hot dip and cold rolled imports were offset by lower cut plate imports from South Korea and Malaysia.
US flat products imports in the first ten months of 2024 were 13% higher than in the same period last year with hot dip galvanized +43%, cold rolled +31%, cut plate -8%, and hot rolled -7%.
US flat products import licenses
January 2016 to October 2024
Short tons
Transportation of rolled steel coils on an open loading platform, Aygir station, Russia by Vasily Astanin, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0, via Wikimedia Commons
Worldsteel reported crude steel production in China at 77.1 million metric tonnes in September, 6.1% lower than in September, 2023. Chinese production in the first nine months of 2024 was 4.6% lower than in the same period last year.
China’s General Administration of Customs reported net finished steel exports (exports minus imports) in September at 9.6 million tonnes, 29% higher than in September, 2023. Net finished steel exports in the first nine months of 2024 were 41% higher than in the first nine months of 2023.
