Prices for certain flat steel imports into the United States have dropped amid weakened domestic prices as well as rising concerns over underlying demand, restarted furnace capacity and surging Covid-19 cases - especially in the South, Midwest and West of the country.
With some states being overwhelmed by increased novel coronavirus infections, it is possible that they will resume lockdowns, sources said; and the threat of renewed shutdowns has affected both steel service centers and end users' steel purchasing decisions.US finished steel imports totaled 1.6 million tonnes in May, down by 35.4% from 2.5 million tonnes in April and down by 13.6% from 1.9 million tonnes in May 2019, according to preliminary Census data from the US Department of Commerce's Enforcement and Compliance division, last updated...