Preliminary Finished Steel Imports Increase 5% in June
07/29/2011 - The U.S. imported 2,110,000 net tons of finished steel in June, up 5% from May final data according to the latest report from AISI.
The U.S. imported a total of 2,670,000 net tons of steel in June, down 10%, from May 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 June total included 2,110,000 net tons of finished steel, up 5% from May final data.
Annualized total steel imports in 2011 would be 29.2 million net tons, up 22% vs. 2010, while finished steel imports in 2011 would be 22.1 million net tons, up 17% vs. 2010.
Finished steel import market share in June was an estimated 24% and is 22% year-to date (YTD).
“An import market share of 24 percent in the context of significant underutilized domestic steel capacity is substantial,” said AISI President and CEO Thomas J. Gibson, commenting on June 2011 preliminary steel finished imports data. “There has also been a trend of rising finished steel imports from offshore — especially Asia — in recent months. These developments underscore the need for the U.S. government to vigorously enforce our laws against injurious dumped and subsidized imports.”
Key finished steel products with significant import increases in June 2011 compared to May include
· Cut-length plates, up 19%
· Line pipe, up 18%
· Heavy structural shapes, up 17%
· Cold rolled sheets, up 17%
Major products with significant YTD import increases vs. the same period last year include reinforcing bar (up 55%), oil country goods (up 41%) and hot rolled bars (up 33%).
In June, the largest volumes of finished steel imports from offshore were from South Korea (301,000 net tons, up 28%), China (161,000 net tons, up 26%), Japan (123,000 net tons, down 17%), Turkey (90,000 net tons, no change) and Taiwan (75,000 net tons, up 56%).
For the first 6 months of 2011, the largest offshore suppliers were South Korea (1,488,000 net tons, up 67%), Japan (756,000 net tons, up 22%) and China (561,000 net tons, up 50%).
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 118 associate and affiliate members who are suppliers to or customers of the steel industry
