Preliminary Steel Imports Decline 5% in February
03/28/2012 - The U.S. imported a total of 2,689,000 net tons of steel in February, down 5% from January final data, according to the latest report from AISI. Finished steel imports were down 7% through the same period.
The U.S. imported a total of 2,689,000 net tons of steel in February, down 5% 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 2,051,000 net tons of finished steel, down 7% from January final data.
On an annualized basis, total steel imports in 2011 would be 33.0 million net tons, up 16% vs. 2011, while finished steel imports in 2011 would be 25.5 million net tons, up 17% vs. 2011.
Finished steel import market share in February was an estimated 23%. Through the first two months of this year, import market share is 23%, up from the 22% for full year 2012.
Key finished steel products with significant import increases in February 2012 compared to January are
· Wire rods (up 77%)
· Hot dip galvanized sheets and strip (up 39%)
· Plates in coils (up 15%)
· Hot rolled bars (up 11%)
Major products with significant YTD import increases vs. the same period last year include
· Plates in coils (up 85%)
· Reinforcing bar (up 79%)
· Sheet and strip, all other metallic coated (up 81%)
· Heavy structural shapes (up 65%)
· Hot dip galvanized sheet and strip (up 65%)
In February, the largest volumes of finished steel imports from offshore were from South Korea (298,000 net tons, down 15%), Japan (162,000 net tons, up 11%), Turkey (160,000 net tons, down 5%), India (109,000 net tons, up 182%) and China (87,000 net tons, down 15%). For the first 2 months of 2012, the largest offshore suppliers were South Korea (648,000 net tons, up 62%), Turkey (328,000 net tons, up 211%) and Japan (308,000 net tons, up 19%).
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 120 associate members who are suppliers to or customers of the steel industry.
