Steel Products Prices North America
May 13, 2021
March Import Market Share for Sheet and Plate Products
Written by David Schollaert
This report examines the import share of sheet and plate products. Imports’ share of total sheet product shipments was 12.7% in March, down from 14.0% in February. The decrease corresponds to a simultaneous increase in domestic shipments and a rise in imports; however, the surge in domestic shipments at 17.4% month on month outpaced the 5.1% increase in imports.
Domestic shipments in March totaled 4.505 million tons, a strong recovery after February posted the lowest mark since this past August at 3.838 million tons. Imports of sheet products in March totaled about 657,978 tons, the highest mark since January 2020 when imports totaled 714,092 tons. Despite the increase in steel sheet product shipments in March, demand continue to outpace supply, driving prices to unprecedented highs. The import share of hot rolled coil (HRC) edged down to 8.7% in March, compared to 11.3% in February. Although HRC imports were down 11.6% month on month, the correction was accentuated due to an increase of 18.6% in domestic shipments in March when compared to the prior month.
