Preliminary Steel Imports Decline 14% in October
11/24/2010 - The U.S. imported a total of 1,791,000 net tons of steel in October, down 14% from September final data, according to the most recent report from AISI.
The U.S. imported a total of 1,791,000 net tons of steel in October, down 14% from September final data, according to the most recent report from the American Iron and Steel Institute (AISI).
The report, which is based on preliminary Census Bureau data, shows that the October total included 1,489,000 net tons of finished steel, down 6% from September final data.
On an annualized basis, total steel imports in 2010 would be 24.2 million net tons, up 49% vs. 2009, while finished steel imports would be 18.9 million net tons, up 33% vs. 2009. Since July’s finished steel import share of 24% (the high point for the past year), import share has averaged around 20% over the past three months and was an estimated 19% in October, vs. a low of 15% in August 2009.
For the year to date, finished steel import market share is 21%. In the first 10 months of 2010, total and finished steel imports are up 50% and 31%, respectively, compared to the same period last year.
Key finished steel products with significant import increases in October 2010 compared to September include
· Heavy structural shapes (up 57%)
· Standard pipe (up 35%)
· Hot dip galvanized sheet and strip (up 21%)
· Drawn wire (up 16%).
Many finished steel products have registered large year-to-date import increases in 2010 vs. the same period last year, including wire rods (up 91%) and hot rolled sheets (up 42%).
In October, the largest volumes of finished steel imports from offshore were from South Korea (183,000 net tons, down 12%), Japan (104,000 net tons, down 8%), Germany (79,000 net tons, up 36%), India (70,000 net tons, up 255%) and China (52,000 net tons, down 48%).
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 140 associate and affiliate members who are suppliers to or customers of the steel industry.
