AIIS: Steel Imports Drop 18 Percent in February

Monthly steel imports plummeted more than 18 percent to 2.36 million net tons in February, according to the American Institute for International Steel, which represents foreign steel producers. The decline continued a downward trend, with February’s imports more than 13 percent below February 2017 shipments.

Imports from Canada totaled 499,000 net tons, 10.5 percent less than in January, but 2.3 percent more than the previous February, while imports from the European Union climbed almost 9 percent to 377,000 net tons, a two-thirds increase from a year earlier. Imports from South Korea, Brazil and Mexico came in at 277,000 net tons, 238,000 net tons and 225,000 net tons, respectively, marking decreases from January of 18.4 percent, 36.4 percent and 32.5 percent. Imports from South Korea were up 5.6 percent compared to February of last year, while imports from Brazil and Mexico were down 37 percent and 14.2 percent.