AIIS: U.S. Steel Imports Decline Again in February
03/29/2013 - Steel imports declined in February 2013 compared to January by 6.8% according to preliminary government data analyzed by the American Institute for International Steel (AIIS).
Steel imports declined in February 2013 compared to January by 6.8% according to preliminary government data analyzed by the American Institute for International Steel (AIIS).
“Steel imports continued to arrive at depressed levels in February as the uncertainty in the US economy late in 2012 and early 2013 is working its way through the import pipeline and the market as a whole. The steel market early in 2013 reflects prices under pressure, short lead times at domestic mills and cautious buying by distributors and consumers, all of which are not positives for import ordering. The 31% increase in slabs by the domestic industry over January however is a positive sign that the market may be tracking in a more positive direction,” said David Phelps, president of AIIS.
For the first two months of 2013, steel imports declined by 8.7% compared to the same 2012 period. “The steel market in 2013 is off to a slow start, but signs of strength in some of the most important steel consuming market such as autos and energy (with a large inventory overhang at this point), provide some reason for optimism as we move into the usually seasonally stronger second quarter,” concluded Phelps.
Total steel imports in February 2013 were 2.440 million tons compared to 2.617 million tons in January 2013, a 6.8% decrease, and a 10.3% decrease compared to February 2012. For the year- to - date period, imports decreased from 5.536 million tons in the first two months of 2012 to 5.057 million tons in the same 2013 period, an 8.7% decrease.
The data show that imported semifinished products decreased by 2.6% in February 2013 compared to February 2012, from 638 thousand tons in 2012 to 621 thousand tons in 2013, based on preliminary reporting.
The American Institute for International Steel is the only steel related association which supports free trade. The Institute accomplishes its mission through advocacy, networking, communications and education.
