WASHINGTON: Steel shipments fell 15 percent year-over-year to 7.1 million net tons in September. The American Iron and Steel Institute reported steel shipments, or the amount of metal actually sold, declined by 4.7 percent as compared to the 7.4 million net tons in August.
Hot-rolled sheets fell 10 percent in September as compared to August, and hot-dipped galvanized sheets and strip dropped by 8 percent. Cold-rolled sheet was down 7 percent year-over-year. In August, steel shipments had plunged 11.9 percent year-over-year and 1.6 percent compared to the previous month, according to the American Iron and Steel Institute.
Though sales have been flagging, demand for steel has still been strong in the United States. Automakers, one of the biggest customers of steel, have been breaking sales records and are on pace to sell 18 million units this year. But roughly a third of the steel consumed in this country hails from foreign shores.
So far this year, U.S. steel mills have shipped 66.1 million tons of steel, which is 10.7 percent less than last year. Major U.S. steelmakers have filed trade cases against nearly all major importers of steel that don’t already face tariffs. If duties are imposed, it’s expected to improve sales.
