Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,540,000 tons of steel in October, including 2,059,000 tons of finished steel (down 2% and up 3%, respectively, from September final data). Year-to-date (YTD) finished steel imports are up 18% vs. the same period in 2011. Annualized total and finished steel imports in 2012 would be 33.9 and 26.3 million tons, up 19% and 21%, each, respectively vs. 2011. Finished steel import market share in October was an estimated 25% and is estimated at 24% YTD.

Key finished steel products with a significant import increase in October 2012 compared to September are heavy structural shapes (up 56%), tin plate (up 40%), line pipe (up 39%), reinforcing bars (up 27%), hot rolled bars (up 16%) and sheets and strip galvanized hot dipped (up 12%). Major products with significant YTD import increases vs. the same period last year include reinforcing bar (up 50%), line pipe (up 39%), sheets & strip galvanized hot dipped (up 36%) and oil country goods (up 29%).

In October, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were South Korea (372,000 tons, up 16%), Japan (179,000 tons, up 8%), China (117,000 tons, up 14%), Germany (103,000 tons, down 8%) and The Netherlands (71,000 tons, up 85%). For the first 10 months of 2012, the largest offshore suppliers were South Korea (3,181,000 tons, up 30%), Japan (1,697,000 tons, up 38%), China (1,309,000 tons, up 23%), Turkey (1,185,000 tons, up 89%) and Germany (1,035,000 tons, up 29%).