Steel Imports Creep up 1.2% in March
04/23/2008 - The U.S. imported a total of 2,513,000 net tons of steel in March 2008, including 2,064,000 net tons of finished steel, according to the latest report from the American Iron and Steel Institute.
The U.S. imported a total of 2,513,000 net tons of steel in March 2008, including 2,064,000 net tons of finished steel, 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 total and finished steel imports were up 1% and 7%, respectively, vs. February final data.
While total and finished steel imports through the first quarter of 2008 are both down 12% vs. the year-ago first quarter, they are up 8% and 13%, respectively, compared to the previous quarter (Oct ’07-Dec ‘07). On an annualized basis, total and finished steel imports are down 8% and 7%, respectively, vs. 2007. On an annualized basis, total imports of steel in 2008 would be 30.7 million net tons.
Key products with large increases in March compared to the month before include:
- Cut length plates, + 81%
- Standard pipe, + 69%
- Oil country goods, +47%
- Galvanized Hot Dipped Sheets & Strip, + 45%
- Mechanical Tubing, + 35%
- Plates in Coil, + 27%
- Tin Plate, + 24%
For the first three months of 2008, products showing increases vs. the same period in 2007 included Line Pipe (up 43%), Oil Country Goods (up 14%), and Heavy Structural Shapes (up 9%).
For March, the largest volume of finished steel imports from offshore was from China (at 239,000 net tons, up 1% from February). Other notable offshore suppliers were South Korea (159,000 net tons, up 5%), Japan (138,000 net tons, up 56%), India (98,000 net tons, up 18%), and Germany (79,000 net tons, down 17%).
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. AISI’s membership comprises 31 member companies, including integrated and electric furnace steelmakers, and 130 associate and affiliate members who are suppliers to or customers of the steel industry.
