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US Steel Imports Spiked in March: Reason to Panic?

Mark O'Hara
US Steel Imports Spiked in March: Reason to Panic?

The US imported 3.0 million metric tons of steel products in March 2018, according to preliminary data released by the Census Bureau. In comparison, the figure was 3.1 million metric tons in March 2017 and 2.2 million metric tons in February 2018. US steel imports rose more than 34% in March compared to February. Higher steel imports are negative for US steel companies like U.S. Steel Corporation (X), AK Steel (AKS), Steel Dynamics (STLD), and Nucor (NUE). For these companies, higher steel imports are their main challenge.