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U.S. steel imports reached an estimated 2.6 million metric tons in June, the Census Bureau reported today.

The total marked a jump of 13% from the 2.3 million metric tons the U.S. imported in May.

US steel imports rise

steelmaking in an EAF

nikitos77/Adobe Stock

Furthermore, through May, U.S. steel imports totaled 10.7 million metric tons, up 7% from 10.0 million through the first five months of 2020.

Pacing the June rise was a jump in imports of blooms, billets and slabs. Imports of the category reached 795,863 metric tons in June, up 31.7% from 604,340 metric tons in May. Meanwhile, the June total rose a whopping 1,000% compared with June 2020.

Imports of oil country goods jumped 35.2% from May to 154,073 metric tons in June.

In addition, imports of hot rolled sheets jumped by 50.7% to 311,461 metric tons in June. Imports of steel rebar rose 12.0% to 94,915 metric tons.

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This morning in metals news: Steel Dynamics Inc. released its second-quarter results, during which it tallied $4.5 billion in net sales; Nucor Corporation also released its Q2 results; and, lastly, miner Rio Tinto signed a renewable energy agreement in Madagascar.

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Steel Dynamics records Q2 net income of $702M

earnings sign

zerophoto/Adobe Stock

Steel Dynamics reported Q2 net income of $702 million, up from $75 million in Q2 2020.

“During the second quarter, steel demand remained robust as shipments and product pricing continued their positive momentum across our entire steel platform,” said Mark Millett, chairman and CEO. “Higher steel selling values drove significant metal spread expansion across the entire platform and were most prominent within the flat roll steel operations, as continued demand strength and historically low customer inventories persisted throughout the supply chain and supported prices. Domestic steel consumption was strong from the automotive, construction, and industrial sectors, while the energy sector continued to show signs of rebounding.”

The company recorded Q2 2021 net sales of $4.5 billion, up from $2.1 billion in Q2 2020.

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