Preliminary Steel Imports Decline 7% in August
09/28/2011 - The U.S. imported a total of 2,440,000 net tons of steel in August, down 7% from July final data according to the latest report from AISI. Finished steel imports were down 13% over the same period.
The U.S. imported a total of 2,440,000 net tons of steel in August down 7% from July 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 August total included 1,813,000 net tons of finished steel, down 13% from July final data.
Annualized total steel imports in 2011 would be 29.6 million net tons, up 24% vs. 2010, while finished steel imports in 2011 would annualize at 22.5 million net tons, up 19% vs. 2010. Finished steel import market share in August was an estimated 20%; for the year to date, it is 22%.
Key finished steel products with significant import increases in August 2011 compared to July include reinforcing bar (up 88%), line pipe (up 22%) and cut length plates (up 16%).
Major products with significant YTD import increases vs. the same period last year include
· Cut-length plates (up 49%)
· Plates in coils (up 36%)
· Reinforcing bar (up 31%)
· Hot rolled bar (up 29%)
· Cold rolled sheets (up 28%)
· Oil country goods (up 26%)
· Hot rolled sheets (up 19%)
In August, the largest volumes of finished steel imports from offshore were from South Korea (200,000 net tons, down 34%), China (119,000 net tons, down 23%), Japan (91,000 net tons, down 35%), India (84,000 net tons, up 58%) and Germany (81,000 net tons, down 7%).
South Korea (2,013,000 net tons, up 57%) was the largest offshore supplier for the first 8 months of 2011, followed by Japan (988,000 net tons, up 11%) and China (837,000 net tons, up 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 25 member companies, including integrated and electric furnace steelmakers, and 118 associate and affiliate members who are suppliers to or customers of the steel industry.
