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Finished Steel Imports Still High Through October
11/28/2007 - The U.S. imported a total of 2,700,000 net tons of steel in October 2007, a 13% increase compared to the final September data according to the latest report from the American Iron and Steel Institute.
The U.S. imported a total of 2,700,000 net tons of steel in October 2007—a 13% increase compared to the final September data—according to the latest report from the American Iron and Steel Institute (AISI).
The report, which is based on preliminary Census Bureau data, shows that the total includes 1,913,000 net tons of finished steel, down 6% compared to the final September data.
Although overall year-to-date (YTD) imports have declined vs. the all-time record year of 2006, total and finished steel imports YTD, on an annualized basis, remain 8 and 10% higher, respectively, vs. 2005, which also reached historically high import levels. On an annualized basis, total imports of steel in 2007 would be 34.6 million net tons.
Finished steel products showing large increases in October 2007 (vs. the prior month) included:
- Heavy structural shapes, +43%
- Cold finished bars, +40%
- Cold rolled sheets, + 19%
- Line pipe, +19%
- Standard pipe, +16%
- Structural pipe & tubing, +12%.
In the year to date, imports of line pipe, driven largely by China, remain at very high levels. Line pipe, for example, is up 56% vs. 2006. In October, the three largest suppliers of finished steel from offshore were China (303,000 net tons, a 9% decrease vs. September), South Korea (161,000 net tons, a 3% decrease), and Japan (109,000 net tons, a 15% increase).
“It is a top policy priority to remain vigilant regarding high levels of dumped and subsidized imports, given the ongoing surges we are seeing in specific product categories and from certain countries -- some of which are repeat offenders,” said AISI President and CEO Andrew G. Sharkey III.
