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Steel Imports Creep up 4% in July
08/27/2008 - The U.S. imported a total of 2,842,000 net tons of steel in July 2008, up 4% vs. June final data according to the latest report from the American Iron and Steel Institute.
The U.S. imported a total of 2,842,000 net tons of steel in July 2008, up 4% vs. June final data 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 July total included 2,177,000 net tons of finished steel, a 3% increase vs. June final data.
While total and finished steel imports through the first seven months of 2008 are down 11% and 13%, respectively, vs. the same period in 2007, the monthly average for finished steel imports in the most recent 3-month period (May to July 2008) is up 1% vs. the monthly average in the previous 3 months (February to April 2008). On an annualized basis, total and finished steel imports this year are down 3% and 4%, respectively, vs. 2007, with total annualized imports of steel projected to reach 32.2 million net tons in 2008.
Key products with large increases in July compared to the month before include:
- Sheet & Strip–All Other, +36%
- Reinforcing Bar, +30%
- Oil Country Goods, +18%
- Sheet & Strip–Hot Dipped Galvanized, +14%
- Plates in Coils, +14%
Products showing significant increases for the first seven months of 2008 vs. the same period in 2007 include Oil Country Goods (+32%) and Line Pipe (+14%).
In July, the largest volume of finished steel imports from offshore was from China (316,000 net tons, down 14% from June). While steel imports from China in the first seven months of 2008 are down 38% compared to the same period last year, Chinese imports for the most recent 3-month period (July to May) are up 48% compared to the prior 3 months (April to February). Much of this tonnage is in high-value steel products still receiving government export tax rebates (e.g., OCTG, line pipe and hot-dipped galvanized sheet).
Other major offshore suppliers in July include South Korea (256,000 net tons, up 53% from May), Japan (149,000 net tons, up 20%) and Germany (104,000 net tons, down 11%).
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. The Institute comprises 28 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
