Imports Running Steady—and High—Through First Half of 2007
07/25/2007 - The U.S. imported a total of 2,882,000 net tons of steel in June 2007, including 2,296,000 net tons of finished steel, according to the latest report from the American Iron and Steel Institute.
The U.S. imported a total of 2,882,000 net tons of steel in June 2007, 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 2,296,000 net tons of finished steel.
Large increases in June 2007 vs. the month before (when imports experienced their highest monthly total for the year) include semi-finished steel, used in substantial quantities by converters and processors (+33%) and tin plate (+52%).
In June, finished steel imports from China exceeded those from all other foreign suppliers, including Canada. The five largest suppliers of finished steel from offshore in June were China (501,000 net tons, -7% vs. May), South Korea (186,000 net tons, -11%), Germany (114,000 net tons, +10%), Japan (110,000 net tons, -30%), and Brazil (109,000 net tons, -22%).
Year-to-Date Imports—While overall imports for the first half of this year have declined vs. the all-time record year of 2006, total and finished steel imports through the first six months of 2007, on an annualized basis, remain 10% and 14% higher, respectively, than 2005, which itself saw significant import levels.
Key products with large first-half increases in 2007 vs. the same period in record year 2006 include
- Electrical sheets & strip, +46%
- Sheets & strip, all other metallic coated, +14%
- Tin plate, +25%
- Tin-free steel, +10%
- Standard rails, +22%
- Line pipe, +75%
- Stainless pipe & tubing, +27%
- Pressure tubing, +22%
For the first half of 2007 vs. the same period in record year 2006, the largest offshore suppliers of finished steel were China (2,590,000 net tons, +25%), South Korea (1,085,000 net tons, -21%), Brazil (832,000 net tons, +17%), Japan (774,000 net tons, -15%), and Taiwan (590,000 net tons, -37%).
Comments—“While imports of steel during the first half of 2007 have fallen off last year’s record levels, they still remain high by historic standards,” said AISI Chairman Ward J. Timken Jr., who is Chairman of the Board of Directors of The Timken Co. “Despite consistent gains in productivity, energy efficiency and competitiveness by domestic steelmakers during the first six months of the year, trade-distorting practices and anti-competitive behavior on the part of certain foreign producers are giving imports an unfair advantage in the marketplace.”
Andrew G. Sharkey, III, AISI President and CEO, added that, “The ongoing surge of steel imports from China is a reminder that the overall U.S. bilateral trade deficit in manufactured goods from China continues to grow, aided by WTO-illegal subsidies and other non-market behavior. It is time for Congress to enact strong China trade legislation this year.”
