Finished Steel Imports Surge 15% in January
02/25/2009 - The U.S. imported a total of 2,343,000 net tons of steel in January 2009, a 13% increase vs. December final data, according to the latest report from AISI.
The U.S. imported a total of 2,343,000 net tons of steel in January 2009, a 13% increase vs. December final 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 included 2,134,000 net tons of finished steel, a 15% increase vs. December final data.
On an annualized basis, total and finished steel imports are down 12% and 1%, respectively, vs. 2008, and would result in annualized total steel imports of 28.1 million tonnes in 2009.
The double-digit increase in finished steel imports occurred while U.S. domestic facilities operated at a 44% utilization rate in January. Finished steel import market share surged to an estimated 36% in January, after averaging 32% average in the 4th quarter of 2008.
Key products with increases in January 2009 compared to December include
- Reinforcing Bar, +295%
- Heavy Structural Shapes, +136%
- Sheets and Strip (All Other Metallic Coated), +112%
- Cold Rolled Sheets, +52%
- Cut-Length Plates, +43%
- Line Pipe, +25%
In January, the largest volume of finished imports from offshore was from China (435,000 net tons, down 10% from December), representing 20% of all finished imports for the month. Based on the January data, finished steel imports from China in 2009 would annualize at 5.2 million net tons.
Other major offshore suppliers in January were Korea (259,000 net tons, up 130% from December), Japan (147,000 net tons, up 28%), Turkey (112,000 net tons, up 55%), Germany (93,000 net tons, up 12%) and India (80,000 net tons, down 35%).
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. The Institute comprises 25 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
