Indian Finished Steel Exports Dropped Significantly

The finished steel product that reported highest surge in import volumes was heavy structural shapes.

SEATTLE (Scrap Monster): The total steel imports stood at 2.810 million net tons during the month of June this year, as per the most recent statistics published by the U.S. Census Bureau. This is marginally higher by 2.3% when compared with the imports during the prior month. On the contrary, the finished steel imports registered notable decline by 6.0% month-on-month to total 2.204 million net tons.

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The finished steel product that reported highest surge in import volumes was heavy structural shapes, whose imports during June 2022 recorded nearly 61% surge over the prior month. The imports of ingots and billets and slabs too were up by 51%. The largest suppliers during the month were Canada, Mexico, South Korea, Brazil and Russia.

Over the 12-month period from July 2021 to June 2022, the total and finished steel imports were up by 38.2% and 50.1% respectively. The finished steel import market share was estimated at 25% in June as well as over the initial half-yearly period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from July 2021 to June 2022 compared to the previous 12-month period included oil country goods and wire rods, whose imports skyrocketed by 125% and 97% respectively. Also, imports of cold rolled sheets and plates in coils were up by 69% each.





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