Steel Import Slide Fails to Suppress Year-to-Date Totals
09/26/2007 - The U.S. imported a total of 2,558,000 net tons of steel in August 2007, reflecting reflects a 22% decrease compared to July final data.
The U.S. imported a total of 2,558,000 net tons of steel in August 2007, 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 August total reflects a 22% decrease compared to July final data. The total also includes 2,034,000 net tons of finished steel, reflecting an 18% drop compared to July final data.
Although overall imports year-to-date (YTD) for this year have declined as compared to the all-time record year of 2006, total and finished steel imports for YTD 2007, on an annualized basis, remain 11% and 13% higher, respectively, vs. 2005, which itself saw historically high import levels. Projecting total steel imports on an annualized basis, total imports of steel in 2007 would reach 35.5 million net tons by year-end.
Products showing the largest increases in August 2007 vs. the month before include:
- Standard rails, +127%
- Heavy structural shapes, +26%
- Cold finished bars, +17%
- Tin plate, +16%
In August, the five largest offshore suppliers of finished steel were China (360,000 net tons, down 26% vs. July), Japan (147,000 net tons, up 2%), South Korea (144,000 net tons, down 28%), Taiwan (130,000 net tons, down 26%), and Germany (102,000 net tons, up 25%). YTD finished steel from China, on an annualized basis, would equate to 5.2 million net tons, only slightly below last year’s record total.
“The overall import trend continues to be of concern,” said Andrew G. Sharkey III, AISI President and CEO. “For efficient, market-based U.S. producers of steel and steel-containing products, rules-based free trade remains key.”
