Steel Shipments Fall 7.3% Year Over Year | Northwest Indiana Commercial Securities
U.S. steel mills shipped 7.67 million tons of steel in July, the most recent month for which data is available, according to the Washington, DC-based trade association American Iron and Steel Institute.
This represents a drop of 7.3% from the 8.27 million tonnes shipped in July 2021, but an increase of 0.9% from the 7.6 million tonnes shipped the previous month.
Last year, US mills shipped 94.71 million tons of steel, up 16.9% from the 81 million tons of steel shipped the year before.
So far this year, steel shipments have totaled 53.64 million, down 1.1% from the 54.24 million tonnes shipped in the first seven months of 2021.
Steel shipments are a key indicator of the financial health of the steel industry, as they reflect the amount of steel actually sold to customers, such as automakers, appliance makers, construction companies and service centers that process steel for a wide variety of end uses. .
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In the first seven months of 2022, hot-rolled sheet shipments were down 5%, corrosion-resistant sheet and strip 6%, and cold-rolled sheet 12%, according to American Iron and Steel. Institute.
Steel prices fell after hot-rolled coils hit more than $2,000 a ton last year, but remain high relative to normal market conditions.
In the United States, the price of hot-rolled strip recently fell 6% to $805 per ton and cold-rolled coil rose 5% to $1,161 per ton, according to the pricing website. SteelBenchmarker steel. Standard sheet was flat at $1,789 per ton. Shredded scrap fell 6% to $403 per ton, heavy smelter scrap increased 4% to $327 per ton and bushel scrap fell 3% to $405 per ton, reducing input costs steelmakers.