Preliminary Steel Imports Rise 7% in May
06/23/2010 - The U.S. imported a total of 2,226,000 net tons of steel in May, up 7% vs. April final data and the 3rd consecutive monthly increase according to the latest report from AISI.
The U.S. imported a total of 2,226,000 net tons of steel in May, up 7% vs. April 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 this was the highest monthly total since January 2009 and the 3rd consecutive monthly increase. The report also indicates the May total included 1,722,000 net tons of finished steel, up 3% vs. April final data.
On an annualized basis, total steel imports in 2010 would be 23.0 million net tons, up 42% vs. 2009, while finished steel imports would be 18.1 million net tons, up 28% vs. 2009. Finished steel import market share was an estimated 21% in May, vs. a low of 15% in August 2009. Import market share has remained above 20% since March.
Key finished steel products with significant import increases in May 2010 compared to April include
- Plates in coils, + 34%
- Tin plate, + 32%
- Mechanical tubing, + 23%
- Oil country goods, + 21%
- Hot dip galvanized sheets and strip, + 17%
In May, the largest volumes of finished steel imports from offshore were from South Korea (180,000 net tons, down 8%), Japan (122,000 net tons, up 34%), India (116,000 net tons, up 187%), Germany (96,000 net tons, up 12%) and China (60,000 net tons, down 2%).
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 23 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
