Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the U.S. imported a total of 2,098,000 tons of finished steel in June, down 13% from May's final data. Year-to-date finished steel imports are up 22% vs. the same period in 2011. Annualized finished steel imports would be 27.0 million tons, up 24% vs. 2011. Finished steel import market share in June was 23% and was 24% in the first half of the year.

A key finished steel product with a signficant import increase in June 2012 compared to May is tin plate (up 20%). Major products with significant year-to-date import increases vs. the same period last year include reinforcing bar (up 55%), cut-to-length plates (up 51%), oil country tubular goods (up 40%), all other metallic coated sheet and strip (up 38%), and hot dipped galvanized sheet and strip (up 38%).

In June, the largest volumes of finished steel imports from offshore were from South Korea (293,000 tons, down 14%), China (174,000 tons, up 1%), Japan (131,000 tons, down 30%), Germany (121,000 tons, no change) and Turkey (88,000 tons, down 33%).

For the first six months of 2012, the largest offshore suppliers were South Korea (1.866 million tons, up 24%), Japan (982,000 tons, up 30%), Turkey (905,000 tons, up 100%), China (785,000 tons, up 40%) and Germany (635,000 tons, up 31%).