Preliminary Steel Imports Dip 5% in November
12/30/2010 - The U.S. imported a total of 1,784,000 net tons of steel in November, down 5% from October final data according to the latest report from AISI. Finished steel imports were down 6% over the same period.
The U.S. imported a total of 1,784,000 net tons (NT) of steel in November, down 5% from October 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 November total included 1,495,000 net tons of finished steel, down 6% from October final data.
On an annualized basis, total steel imports in 2010 would be 24.1 million net tons, up 48% vs. 2009, while finished steel imports would be 18.9 million net tons, up 34% vs. 2009. Since a year-high finished steel import share of 24% in July, import market share has continued to remain above 20%.
For the year to date, finished steel import market share is 21%. In the first 11 months of 2010, total and finished steel imports are up 49% and 33%, respectively, compared to the same period last year.
Key finished steel products with significant import increases in November 2010 compared to October include
· Hot rolled sheets (up 23%)
· Wire rods (up 14%)
· Sheets and strip all other metallic coatings (up 11%).
Many finished steel products have registered large year-to-date import increases in 2010 vs. the same period last year, including wire rods (up 87%) and hot rolled bars (up 61%).
In November, the largest volumes of finished steel imports from offshore were from South Korea (153,000 net tons, down 24%), Japan (103,000 net tons, down 15%), Germany (69,000 net tons, down 16%), China (70,000 net tons, up 23%) and India (46,000 net tons, down 37%).
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.
