US steel imports from China have seen a significant decline, with a 23% year-over-year (YoY) drop in April. This trend is part of a broader pattern of reduced steel imports in the United States, driven by a combination of factors including increased domestic production and a decrease in finished steel imports from major suppliers like China and Europe.
The US Department of Commerce has reported that steel imports in March fell to around 2.45 million metric tonnes (t), marking the 10th straight monthly drop. This decline is attributed to a decrease in imports of flat products like hot rolled coil (HRC), hot dipped galvanized (HDG) coil, and cold rolled coil (CRC), as well as reinforcing bar (rebar) and wire rod products[1][3][5].
Citations:
[1] https://www.kallanish.com/en/news/steel/market-reports/article-details/aisi-2023-steel-imports-decrease-by-87percent-0124/
[2] https://www.oecd.org/industry/ind/steel-market-developments-Q4-2023.pdf
[3] https://www.mysteel.net/news/5055779-gacc-chinas-jan-may-steel-exports-jump-25-yoy
[4] https://www.wsj.com/world/china/cheap-chinese-steel-global-backlash-ed0db09a
[5] https://www.argusmedia.com/en/news-and-insights/latest-market-news/2437730-us-steel-imports-set-to-extend-drop-in-march