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Preliminary Steel Imports Decline 16% in February
03/23/2011 - The U.S. imported a total of 1,777,000 net tons of steel in February, down 16% from January final data according to the latest report from AISI.
The U.S. imported a total of 1,777,000 net tons of steel in February, down 16% from January 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 February total included 1,371,000 net tons of finished steel, down 19% from January final data.
Annualized total steel imports in 2011 would be 23.4 million net tons, down 2% vs. 2010, while finished steel imports would be 18.4 million net tons, also down 2% vs. 2010.
Finished steel import market share in February was an estimated 18%, and is 20% through 2 months of this year, a slight decline from the 21% for full year 2010.
Imports of reinforcing bars were up 63% in February 2011 (vs. the previous month) and are up 79% for the year-to-date. Other major products with significant year-to-date import increases vs. the same period last year include oil country goods (up 90%) and cut-length plate (up 84%).
In February, the largest volumes of finished steel imports from offshore were from South Korea (183,000 net tons, down 15%), Japan (123,000 net tons, down 5%), Turkey (70,000 net tons, up 96%), Germany (64,000 net tons, down 34%) and Australia (53,000 net tons, down 29%).
For the first 2 months of 2011, the largest offshore suppliers were South Korea (396,000 net tons, up 59%), Japan (252,000 net tons, up 29%) and Germany (162,000 net tons, up 150%).
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 140 associate and affiliate members who are suppliers to or customers of the steel industry.
