AISI: Preliminary Steel Imports Rise 7% in May 2014
07/08/2014 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 4,016,000 tons of steel in May, including 2,925,000 tons of finished steel (up 7.4% and 6.4%, respectively, vs. April final data).
Year-to-date (YTD) total and finished steel imports are 17,480,000 and 12,829,000 tons, respectively, up 32% and 23% respectively, vs. 2013. Annualized total and finished steel imports in 2014 would be 42.0 and 30.8 million tons, up 31% and 24% respectively vs. 2013. Finished steel import market share was an estimated 28% in May and is estimated at 27% YTD.
Key finished steel products with a significant import increase in May compared to April are oil country goods (up 55%), heavy structural shapes (up 44%), tin plate (up 39%), standard pipe (up 22%), line pipe (up 22%), hot rolled sheets (up 21%) and sheets and strip galvanized hot dipped (up 21%). Major products with significant YTD import increases vs. the same period last year include wire rods (up 96%), plates in coils (up 76%), cold rolled sheets (up 56%), sheets and strip all other metallic coatings (up 47%), sheets and strip galvanized hot dipped (up 40%), hot rolled sheets (39%), mechanical tubing (35%), oil country goods (up 26%), reinforcing bars (up 24%), cut lengths plates (up 24%) and heavy structural shapes up 20%).
In May, the largest volumes of finished steel imports from offshore were from South Korea (584,000 tons, up 45% vs. April final), China (303,000 tons, down 27%), Turkey (149,000 tons, up 5%), Japan (145,000 tons, down 31%) and Taiwan (106,000 tons, up 19%). For five months of 2014, the largest offshore suppliers were South Korea (2,152,000 tons, up 42%), China (1,286,000 tons, up 73%), Japan (852,000 tons, up 3%), Turkey (760,000 tons, up 19%) and Russia (501,000 tons, up 324%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.
Key finished steel products with a significant import increase in May compared to April are oil country goods (up 55%), heavy structural shapes (up 44%), tin plate (up 39%), standard pipe (up 22%), line pipe (up 22%), hot rolled sheets (up 21%) and sheets and strip galvanized hot dipped (up 21%). Major products with significant YTD import increases vs. the same period last year include wire rods (up 96%), plates in coils (up 76%), cold rolled sheets (up 56%), sheets and strip all other metallic coatings (up 47%), sheets and strip galvanized hot dipped (up 40%), hot rolled sheets (39%), mechanical tubing (35%), oil country goods (up 26%), reinforcing bars (up 24%), cut lengths plates (up 24%) and heavy structural shapes up 20%).
In May, the largest volumes of finished steel imports from offshore were from South Korea (584,000 tons, up 45% vs. April final), China (303,000 tons, down 27%), Turkey (149,000 tons, up 5%), Japan (145,000 tons, down 31%) and Taiwan (106,000 tons, up 19%). For five months of 2014, the largest offshore suppliers were South Korea (2,152,000 tons, up 42%), China (1,286,000 tons, up 73%), Japan (852,000 tons, up 3%), Turkey (760,000 tons, up 19%) and Russia (501,000 tons, up 324%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.
