September/October Foreign Steel Imports

The U.S. Department of Commerce updated foreign steel import license data earlier today. SMU analyzes the license data through the 18th of October, produces a daily import license request rate and then we make an assumption that if the daily rate continues by the end of the month we will have “X” number of tons to potentially be received into the United States during the month.

So, what does that look like? As you can see from the table provided below, the daily license rate is 91,172 net tons per day (based on 18 days – not just work days). The trend is for the month to be lower than what we saw in September and more in line with what was received during the month of August.