US raw material imports rise in face of price increases

Steelmakers in the United States increased their purchases of foreign raw materials during March in order to supplement their melting needs due to a combination of further anticipated price increases for domestic ferrous scrap and strong order books for finished products.

March imports of steelmaking raw materials – booked in February – rose 18.7% month on month, US Census Bureau data show, with ferrous scrap, pig iron and direct-reduced iron (DRI) volumes up across the board. US prices for primary and secondary scrap grades gained as much as $15 and $35 per gross ton respectively in March, when domestic mills entered the busiest production period thus far this year. Mills' capacity utilization rates peaked at 78.7% during the week ended March...

Published

Mei Ling Toh

May 15, 2018

22:22 GMT