U.S. Rolling Mill Import Skyrockets 28%, Averaging 5.1K Tons in November 2022

U.S. Rolling Mill Imports

In November 2022, supplies from abroad of rolling mill and other metalworking machinery was finally on the rise to reach 5.1K tons after two months of decline. In general, imports posted a buoyant expansion. The pace of growth appeared the most rapid in February 2022 with an increase of 77% against the previous month. Over the period under review, imports hit record highs in November 2022.

In value terms, rolling mill imports reduced to $90M (IndexBox estimates) in November 2022. Over the period under review, total imports indicated resilient growth from January 2022 to November 2022: its value increased at an average monthly rate of +6.8% over the last ten-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2022 figures, imports increased by +52.1% against July 2022 indices. The most prominent rate of growth was recorded in February 2022 with an increase of 60% month-to-month. Imports peaked at 102K tons in October 2022, and then shrank in the following month.

Imports by Country

Italy (1.8K tons), Germany (1.2K tons) and Japan (295 tons) were the main suppliers of rolling mill imports to the United States, with a combined 64% share of total imports. China, Canada, Ireland, South Korea, India, the Czech Republic, Austria, France, Taiwan (Chinese) and Poland lagged somewhat behind, together accounting for a further 28%.

From January 2022 to November 2022, the biggest increases were in Ireland (with a CAGR of +177.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($17M), Italy ($16M) and Japan ($7.6M) appeared to be the largest rolling mill suppliers to the United States, with a combined 46% share of total imports. These countries were followed by Canada, South Korea, China, Austria, France, Taiwan (Chinese), the Czech Republic, India, Poland and Ireland, which together accounted for a further 25%.

Ireland, with a CAGR of +41.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In November 2022, the rolling mill price amounted to $17.5 per kg (CIF, US), which is down by -31.5% against the previous month. Overall, the import price saw a perceptible decrease. The pace of growth appeared the most rapid in October 2022 when the average import price increased by 47% against the previous month. As a result, import price attained the peak level of $25.6 per kg, and then shrank sharply in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($31.5 per kg), while the price for Ireland ($0.3 per kg) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Rolling Mill Market Overview

The rolling mill market is also being supported by factors such as the expansion of end-use industries and the rising investments in the steel industry. The United States is the world's largest producer of steel. The country's steel industry is highly concentrated, with just a handful of companies accounting for the majority of production.

The increasing demand for cold-rolled products is one of the major factors fueling the growth of the rolling mill market in the United States. Cold-rolled products are widely used in various applications such as construction, automotive, and white goods due to their superior properties such as high strength, dimensional accuracy, and surface finish.

However, volatile raw material prices and stringent environmental regulations are some of the major challenges faced by players operating in this market.

Source: IndexBox Market Intelligence Platform