Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,475,000 tons of steel in August, including 1,929,000 tons of finished steel (down 11% and 13%, respectively, from July final data). Year-to-date (YTD) finished steel imports, however, are up 18% vs. the same period in 2011. Annualized total and finished steel imports in 2012 would be 34.3 and 26.6 million tons, up 20 and 22%, each, respectively vs. 2011. Finished steel import market share in August was an estimated 21% and is estimated at 24% YTD.

Key finished steel products with a significant import increase in August 2012 compared to July are heavy structural shapes (up 59%), reinforcing bar (up 55%), tin plate (up 29%), plates – cut lengths (up 22%) and cold rolled sheets (up 20%). Major products with significant YTD import increases vs. the same period last year include reinforcing bar (up 48%), line pipe (up 43%), plates – cut lengths (up 37%) and sheets & strip galvanized hot dipped (up 33%).

In August, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were South Korea (193,000 tons, down 45%), China (157,000 tons, up 32%), Turkey (131,000 tons, up 254%), Japan (130,000 tons, down 34%) and Germany (92,000 tons, up 3%). For the first 8 months of 2012, the largest offshore suppliers were South Korea (2,431,000 tons, up 21%), Japan (1,328,000 tons, up 34%), China (1,083,000 tons, up 29%), Turkey (1,072,000 tons, up 100%) and Germany (818,000 tons, up 25%).