Preliminary Steel Imports Decline 14% in August
09/23/2009 - The U.S. imported a total of 855,000 net tons of steel in August, the lowest import total to date for 2009, according to the latest report form AISI.
The U.S. imported a total of 855,000 net tons of steel in August 2009, down 14% vs. July final data, according to the latest report form the American Iron and Steel Institute (AISI).
The report, which is based on preliminary Census Bureau data, shows that the August import total includes 786,000 net tons of finished steel, reflecting a 12% decrease vs. July final data. These were the lowest monthly import figures to date in 2009.
On an annualized basis, total steel imports are down 51% vs. 2008, while finished steel imports are down 44%. Annualizing total imports of steel in 2009 would result in 15.7 million net tons. At the same time, finished steel import market share, which was an estimated 15% in August, remains at an estimated 24% year-to-date through 8 months.
Key finished steel products with increases in August 2009 compared to July include
- Wire rods (up 86%)
- Hot rolled sheets (up 44%)
- Cold rolled sheets (up 32%)
In August, the largest volumes of finished steel imports from offshore were from South Korea (84,000 net tons, up 12%), Brazil (37,000 net tons, up 358%), and China (30,000 net tons, up 3%). Based on the first eight months of 2009, finished imports from China would annualize at 1.9 million net tons, which would be 61% less than in 2008 but above any other offshore supplier.
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 24 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
