US steel imports plunge in May on Section 232 timing

After April's rush to beat a key Section 232 deadline, imports of steel mill products into the United States declined in May, preliminary license data from the US Commerce Department's Enforcement and Compliance division indicate.

US steel mill product import volumes in May appear poised to drop by 20.9% from April's total, according to Commerce figures, with blooms, billets and slabs; line pipe; galvanized sheet; and rebar logging the steepest declines. The US was licensed to import 2.69 million tonnes of steel goods last month, off 14.4% from the 3.14 million tonnes recorded a year earlier.
When setting Section 232 trade measures, President Donald Trump initially granted Canada, Mexico and the European temporary exemptions from the tariffs. Those exclusions were first scheduled to end by May 1, before being extended by another 30 days.

Through the month of...

Published

Dom Yanchunas

June 07, 2018

20:13 GMT

New York