AIIS: Jump in Steel Imports a Sign of Strong Economy

Driven by a steep drop-off in shipments from Brazil, U.S. steel imports fell 11.5 percent from June to July. Despite the monthly decline, the 3.47 million net tons of imports were still up 6.3 percent compared to July of last year, reports the American Institute for International Steel, Alexandria, Va.

Imports from Brazil plunged more than 57 percent on the month to 282,000 net tons, more than 45 percent lower than in the previous July. Imports from Canada dropped by more than one-tenth to 465,000 net tons (4.3 percent more than in July 2016), and imports from South Korea dipped more than 13 percent to 337,000 net tons (21.4 percent less than a year earlier).