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Preliminary U.S. Steel Imports Decline 7% in February

03/26/2013 - Based on preliminary U.S. Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,441,000 tons of steel in February, including 1,819,000 tons of finished steel (down 7% and 15%, respectively, vs. January final data).

Based on preliminary U.S. Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,441,000 tons of steel in February, including 1,819,000 tons of finished steel (down 7% and 15%, respectively, vs. January final data). Year-to-date (YTD) total and finished steel imports are 5,058,000 and 3,963,000 net tons (tons), respectively, down 9% and 8% vs. 2012. Annualized total and finished steel imports in 2013 would be 30.3 and 23.8 million tons, down 9% and 8%, each, respectively vs. 2012. Finished steel import market share was an estimated 22% in February and is estimated at 23% YTD.
Key finished steel products with a significant import increase in February 2013 compared to January are cut lengths plates (up 44%) and plates in coils (up 24%). Major products with significant YTD import increases vs. the same period last year include sheets and strip hot dipped galvanized (up 22%), wire drawn (up 17%) and line pipe (up 11%).
In February, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were South Korea (249,000 tons, down 31%), China (143,000 tons, down 15%), Japan (126,000 tons, down 10%), Turkey (114,000 tons, down 15%) and Germany (100,000 tons, up 36%).
For 2 months of 2013, the largest offshore suppliers were South Korea (611,000 tons, down 7%), China (311,000 tons, up 65%), Japan (265,000 tons, down 14%), Turkey (249,000 tons, down 29%) and Germany (173,000 tons, down 4%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.