Preliminary U.S. Steel Imports Rose 13% in October
12/02/2014 - Based on preliminary U.S. Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 4,398,000 tons of steel in October, including 3,396,000 tons (tons) of finished steel (up 12.8% and 14.9%, respectively, vs. September final data).
Year-to-date (YTD) total and finished steel imports are 36,963,000 and 27,812,000 tons, respectively, up 37% and 32% respectively, vs. 2013. Annualized total and finished steel imports in 2014 would be 44.4 and 33.4 million tons, up 38% and 34% respectively vs. 2013. Finished steel import market share was an estimated 31% in October and is estimated at 28% YTD.
Key finished steel products with a significant import increase in October compared to September are heavy structural shapes (up 48%), plates in coils (up 37%), tin plate (up 30%), sheets and strip all other metallic coatings (up 30%), line pipe (up 27%), reinforcing bars (up 25%), hot rolled sheets (up 23%) and hot rolled bars (up 17%). Major products with significant YTD import increases vs. the same period last year include wire rods (up 87%), plates in coils (up 86%), cold rolled sheets (up 84%), cut lengths plates (up 70%), sheets and strip hot dipped galvanized (up 57%), heavy structural shapes (up 53%), hot rolled sheets (up 43%), sheets and strip all other metallic coatings (up 42%), mechanical tubing (up 31%), tin plate (up 26%), oil country goods (up 20%) and reinforcing bars (up 14%).
In October, the largest volumes of finished steel imports from offshore were from South Korea (550,000 tons, up 43% vs. September final), China (368,000 tons, up 12%), Turkey (327,000 tons, up 88%), Japan (237,000 tons, up 36%) and Russia (119,000 tons, down 33%). For 10 months of 2014, the largest offshore suppliers were South Korea (4,563,000 tons, up 44%), China (2,710,000 tons, up 70%), Turkey (1,807,000 tons, up 67%), Japan (1,768,000 tons, up 10%) and Russia (1,200,000 tons, up 518%).
Key finished steel products with a significant import increase in October compared to September are heavy structural shapes (up 48%), plates in coils (up 37%), tin plate (up 30%), sheets and strip all other metallic coatings (up 30%), line pipe (up 27%), reinforcing bars (up 25%), hot rolled sheets (up 23%) and hot rolled bars (up 17%). Major products with significant YTD import increases vs. the same period last year include wire rods (up 87%), plates in coils (up 86%), cold rolled sheets (up 84%), cut lengths plates (up 70%), sheets and strip hot dipped galvanized (up 57%), heavy structural shapes (up 53%), hot rolled sheets (up 43%), sheets and strip all other metallic coatings (up 42%), mechanical tubing (up 31%), tin plate (up 26%), oil country goods (up 20%) and reinforcing bars (up 14%).
In October, the largest volumes of finished steel imports from offshore were from South Korea (550,000 tons, up 43% vs. September final), China (368,000 tons, up 12%), Turkey (327,000 tons, up 88%), Japan (237,000 tons, up 36%) and Russia (119,000 tons, down 33%). For 10 months of 2014, the largest offshore suppliers were South Korea (4,563,000 tons, up 44%), China (2,710,000 tons, up 70%), Turkey (1,807,000 tons, up 67%), Japan (1,768,000 tons, up 10%) and Russia (1,200,000 tons, up 518%).
