During a recent ROTH Capital Partners webinar session, MetalMiner CEO Lisa Reisman and Don Hauser, vice president of business solutions, covered a wide range of metals-related topics, from the recent LME nickel debacle to potential metal price drivers to steel imports and steel prices.
On the last point, Hauser took a look at February’s decline in steel imports and the landscape for steel prices.
According to a recent report by the American Iron and Steel Institute, U.S. steel imports declined by 23% from January to February. The U.S. imported 2.34 million net tons of steel in February, according to AISI. That compares with 3.04 million net tons of steel imports in January.
By product, the U.S. saw a jump in imports of some products, including rebar, heavy structural shapes and line pipe, according to Census Bureau data. Rebar imports reached 139,171 tons in February, up 96% from January.
Hauser commented on the import numbers during the webinar session.
“If you look at when steel prices peaked … the steel market peaked in October and you can see in November is when everything started hitting the shores and being delivered,” he said.
Imports remained high in November, December and January, as steel prices began to decline.