Steel Trade Update
From a 29-month high of 3.5 Mt in June, US steel imports retreated to 3.1 Mt in July, although still up by 0.2 Mt year-on-year, according to import licence data from the US Census Bureau. At 21.0 Mt, US steel imports in January-July were up by 3.8 Mt on the same seven months last year.
Meanwhile, Brazilian steel exports, a significant proportion of which are shipped to the US, dropped to a three-month low of 1.0 Mt July. However, January-July shipments were still 0.8 Mt higher than the same period in 2016 at 8.2 Mt.