NEW YORK U.S. steel imports appeared to be on course to fall 8.5 percent in June, led by sharp declines in shipments from Turkey, Russia and Brazil, after logging three consecutive monthly gains.
Steel import license applications totaled nearly 2.33 million tonnes last month, down from Mays preliminary figure of 2.54 million tonnes, according to data from the U.S. Commerce Departments Import Administration.
Turkeys license applications fell 50 percent to 77,016 tonnes largely due to a decrease in reinforcing bar to 45,337 tonnes in June from preliminary imports of 101,094 tonnes in May.
Brazil and Russia also registered hefty steel product declines (down 59.1 percent and 37.7 percent, respectively) due to decreased volumes of semifinished material.
By product, decreases were recorded for semifinished steel (down 20 percent) and hot-dipped galvanized sheet and strip (down 26.1 percent), while increases were seen in oil country tubular goods (up 15.4 percent), hot-rolled sheet (up 42 percent) and line pipe (up 11.2 percent).
Moving forward, some sources said that imports of energy products likely will be curtailed in the near term due to a long-awaited trade case filed June 2 by a number of U.S. producers against imports of OCTG from nine countries (amm.com, July 2).