Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,582,000 tons of steel in July, including 2,028,000 tons of finished steel (down 8% each, respectively, from June final data). Year-to-date (YTD) finished steel imports, however, are up 19% vs. the same period in 2011. Annualized total and finished steel imports in 2012 would be 34.7 and 26.8 million tons, respectively, up 22 and 23%, each, respectively vs. 2011. Finished steel import market share in July was an estimated 23% and is estimated at 24% YTD.

Key finished steel products with a significant import increase in July 2012 compared to June are plates in coils (up 23%), line pipe (up 22%) and cold finished bars (up 12%). Major products with significant YTD import increases vs. the same period last year include reinforcing bar (up 54%), line pipe (up 45%), plates – cut lengths (up 42%), oil country goods (up 36%) and sheets & strip galvanized hot dipped (up 32%).

In July, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were South Korea (285,000 tons, down 9%), Japan (169,000 tons, up 12%), China (116,000 tons, down 41%), Italy (95,000 tons, up 56%) and Germany (87,000 tons, down 30%). For the first 7 months of 2012, the largest offshore suppliers were South Korea (2,171,000 tons, up 20%), Japan (1,171,000 tons, up 31%), Turkey (939,000 tons, up 94%), China (923,000 tons, up 29%) and Germany (724,000 tons, up 27%).