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January preliminary steel imports jumped 27.5% from 2.0 million tons (mt) in December to 2.55 mt, the highest level since July 2011 as imports of beams (up 195%), rebar (up 114%), line pipe (65%), cut-to-length plate (up 54%), OCTG (up 49%) and sheet (up 27%) surged.

Declines were few and far between in January, with the largest drop seen for wire rod, which declined 12% from December levels.

The largest increases were from Russia (up 380%), Turkey (up 115%) and Korea (up 56%), while imports from Brazil posted the biggest drop, falling some 27%.

Our full report is available to subscribers and provides further thoughts on January imports as well as our outlook for the coming months and implications for steel equities.

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