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Released March 03, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Steel imports in the U.S. were up 43% in 2021 compared with 2020, the American Iron and Steel Institute (AISI) reported last week. Russia was a significant reason for the growth, leading all other countries with a 280% year-over-year increase in steel exports to the U.S.--although Russia's invasion of Ukraine could potentially impact continued trade between the two countries.
The reporting noted the U.S. imported 31.4 million net tons of steel and 22.7 million net tons of finished steel, including 1.6 million net tons from Russia.
Ingots and billets and slabs led all imports in 2021, accounting for 8.6 million net tons. According to data from the U.S. Department of Commerce, Russian slab imports jumped to 1.05 million tons through November.
Falling prices and increased tariff costs for Russian slab led to a decline in U.S. imports in 2020, but increased hot-rolled coil (HRC) prices this past year led to a significant rebound. However, the Russia-Ukraine war could lead to U.S. sanctions that cut off the flow of goods such as slab. This could affect domestic rerollers who rely on Russian slabs to produce flat-rolled products like HRC, including NLMK Group's (Lipetsk, Russia) U.S. subsidiary NLMK USA (Farrell, Pennsylvania)--which imports most Russian slabs, according to Argus Media.
Industrial Info is tracking $3.3 billion in active capital and maintenance projects attributed to NLMK worldwide, including almost $3 billion in Russia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a full list of detailed project reports.
Industrial Info is tracking $5.6 billion in active capital-spending projects at steel mills in Russia that have a high and medium probability (70-99%) of moving forward as planned. Subscribers can click here for a list.
Industrial Info also is tracking $18.4 billion in active capital-spending projects at steel mills in the U.S. that have a high and medium probability, including almost $6 billion under construction. Subscribers can click here for a full list of projects.
Among the projects is Nucor Corporation's (NYSE:NUE) (Charlotte, North Carolina) $2.7 billion steel mill in Apple Grove, West Virginia. Kickoff is expected in August. When complete, the 3 million ton-per-year facility's product mix will include 750,000 tons per year of hot-rolled coil (HRC). Subscribers can click here for the project report.
Already under construction is a $770 million steel processing plant electric arc furnace addition in Calvert, Alabama, attributed to AM/NS Calvert LLC, a 50/50 joint venture between ArcelorMittal (NYSE:MT) (Luxembourg, Luxembourg) and Nippon Steel Corporation (Tokyo, Japan). The project will allow the facility to produce 1.5 million tons per year of steel slabs. Subscribers can click here for the project report.
In February, the U.S. and Japan reached an agreement to partially lift Section 232 tariffs of 25% on certain steel imports, which will begin April 1, allowing for a yearly set volume to enter the U.S. tariff-free. Japan accounted for the seventh-most volume of steel imports in 2021, according to the AISI, with 1.08 million net tons, up almost 35% from 2020.
Canada remained the largest source of imported steel to the U.S., with 6.97 million net tons--22% of the total amount--up 34% from 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
The reporting noted the U.S. imported 31.4 million net tons of steel and 22.7 million net tons of finished steel, including 1.6 million net tons from Russia.
Ingots and billets and slabs led all imports in 2021, accounting for 8.6 million net tons. According to data from the U.S. Department of Commerce, Russian slab imports jumped to 1.05 million tons through November.
Falling prices and increased tariff costs for Russian slab led to a decline in U.S. imports in 2020, but increased hot-rolled coil (HRC) prices this past year led to a significant rebound. However, the Russia-Ukraine war could lead to U.S. sanctions that cut off the flow of goods such as slab. This could affect domestic rerollers who rely on Russian slabs to produce flat-rolled products like HRC, including NLMK Group's (Lipetsk, Russia) U.S. subsidiary NLMK USA (Farrell, Pennsylvania)--which imports most Russian slabs, according to Argus Media.
Industrial Info is tracking $3.3 billion in active capital and maintenance projects attributed to NLMK worldwide, including almost $3 billion in Russia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a full list of detailed project reports.
Industrial Info is tracking $5.6 billion in active capital-spending projects at steel mills in Russia that have a high and medium probability (70-99%) of moving forward as planned. Subscribers can click here for a list.
Industrial Info also is tracking $18.4 billion in active capital-spending projects at steel mills in the U.S. that have a high and medium probability, including almost $6 billion under construction. Subscribers can click here for a full list of projects.
Among the projects is Nucor Corporation's (NYSE:NUE) (Charlotte, North Carolina) $2.7 billion steel mill in Apple Grove, West Virginia. Kickoff is expected in August. When complete, the 3 million ton-per-year facility's product mix will include 750,000 tons per year of hot-rolled coil (HRC). Subscribers can click here for the project report.
Already under construction is a $770 million steel processing plant electric arc furnace addition in Calvert, Alabama, attributed to AM/NS Calvert LLC, a 50/50 joint venture between ArcelorMittal (NYSE:MT) (Luxembourg, Luxembourg) and Nippon Steel Corporation (Tokyo, Japan). The project will allow the facility to produce 1.5 million tons per year of steel slabs. Subscribers can click here for the project report.
In February, the U.S. and Japan reached an agreement to partially lift Section 232 tariffs of 25% on certain steel imports, which will begin April 1, allowing for a yearly set volume to enter the U.S. tariff-free. Japan accounted for the seventh-most volume of steel imports in 2021, according to the AISI, with 1.08 million net tons, up almost 35% from 2020.
Canada remained the largest source of imported steel to the U.S., with 6.97 million net tons--22% of the total amount--up 34% from 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
