China produced 86.4 million tonnes in August, accounting for 57% of world output and rising 3.2% on August, 2022. World crude steel production outside China rose 0.9% compared to last August. Significant changes outside China include higher production in India (+17.4%) and Russia (estimated +8.9%), as well as lower production in Iran (-24.1%) and South Korea (-5.9%).
Crude steel production in the first nine months of 2023 was 0.3% higher than in the same period last year.
Based on reported import licenses, US long products imports rose 14% from 319,000 short tons in August, 2022 to 362,000 tons last month. According to import licenses, wire rod imports showed the highest increase with volumes increasing mainly from Algeria and Egypt. Rebar imports also increased significantly from the same countries.
Long products imports in the first eight months of 2023 were 19% lower than in the same period last year with wire rod showing the highest volume (-546,000 tonnes) and percentage (-40%) decline.
US long products import licenses
January 2015 to August 2023
Short tons
“Construction of the foundation for a Senvion 3.2M114 wind turbine in the Kreuzstetten IV wind farm” by Kwerdenker, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0, via Wikimedia Commons
Based on reported import licenses, US flat products imports fell 18% from 815,000 short tons in August, 2022 to 666,000 tons in August, 2023. Hot roll imports fell by the highest volume with imports down from Mexico and Canada. In contrast, cut plate imports rose significantly driven by South Korea.
Flat products imports in the first eight months of 2023 were 23% lower than in the same period last year with hot dip galvanized -29%, cold roll -28%, hot roll -22%, and cut plate +24%.
Based on reported import licenses, US long products imports fell 22% from 454,000 short tons in July, 2022 to 352,000 tons last month. According to import licenses, wire rod imports showed the highest volume decline compared to other long product categories due to lower volumes from countries including Malaysia, Algeria, and Germany.
Long products imports in the first seven months of 2023 were also 22% lower than in the same period last year with wire rod showing the highest volume (-578kt) and percentage (-46%) decline.
US long products imports licenses
January 2015 to July 2023
Short tons
“Steel reinforcement for an upcoming concrete pour at the Track A approach structure” (2017) by MTA Capital Construction Mega Projects, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
Based on reported import licenses, US flat products imports fell 17% from 779,000 short tons in July, 2022 to 646,000 tons in July, 2023. Hot rolled imports fell by the highest volume with imports down from Mexico, South Korea, and Japan.
Flat products imports in the first seven months of 2023 were 23% lower than in the same period last year with hot dip galvanized -29%, cold roll -27%, hot roll -23%, and cut plate +18%.
Worldsteel reported July world crude steel production in China at 90.8 million metric tonnes, 11.5% higher than in July, 2022. Chinese production in the first seven months of 2023 was 2.2% higher than in the same period last year.
Data from China’s General Administration of Customs show July net finished steel exports (exports minus imports) rose 3% compared to July last year. Net finished steel exports in the first seven months of 2023 were 38% higher than in the first seven months of 2022.
