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September Steel Imports Rise, 1.1 Million Metric Tons Imported In The Month Compared To Record Low 0.8 Billion In August
September steel imports staged a moderate comeback, after dipping to recent record lows in August. The September total came in at $1.0 billion or 1.1 million metric tons. As announced by the census bureau, the increased activity was refleted "primarily in blooms, billets, and slabs. Monthly increases occurred primarily with Canada." Year to date data, however is nothing to chear about, with a 50%+ decline year over year: "The year to date final statistics through August 2009 showed steel imports of 9.6 million metric tons compared to 19.4 million metric tons through August 2008. The largest commodity decrease was in blooms, billets, and slabs. The largest country decrease was with Canada."
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At less than $1 a ton, we should buy all the steel that's available.
"....1.1 billion metric tons".
This is a typo. You mean 1.1 million, not billion, metric tons, in September.
Useless comment edited.
Impressive chart. Hard to imagine how GDP is 3.5% when you look at year-over-year steel imports.
How big is the local steel production and what will be the total of steel used?
Depending on use steel has a shelf life of some six weeks. This applies to sheet steel that gets used for making the body of a car. Steel has an aging process that makes pressing the sheet into a different shape difficult.
This steel has to be made locally and looking at the whole production might be different.