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Steel Imports Dip 8% in February

03/26/2008 - The U.S. imported a total of 2,458,000 net tons of steel in February 2008, including 1,905,000 net tons of finished steel, according to the latest report from the American Iron and Steel Institute.

The U.S. imported a total of 2,458,000 net tons of steel in February 2008, including 1,905,000 net tons of finished steel, according to the latest report from the American Iron and Steel Institute (AISI).
 
That report, which is based on preliminary Census Bureau data, shows that total and finished steel imports were down some 8 and 14%, respectively, as compared to January final data. On an annualized basis, total and finished steel imports are down 8% and 7%, respectively, as compared to the first two months of 2007. On an annualized basis, total imports of steel in 2008 would be 30.7 million net tons.  
 
Products showing the greatest increases in the first two months of 2008, as compared to the same period in 2007, included:
 
  • Line Pipe, + 59%
  • Heavy Structural Shapes, +19%
  • Hot Rolled Sheet, +9%
  • Oil Country Goods, +6%
 For February, the largest volume of finished steel imports from offshore was from China (at 235,000 net tons, down 14% from January). Other notable offshore suppliers included South Korea (151,000 net tons, down 35%), Japan (88,000 net tons, down 29%), Germany (88,000 net tons, up 2%), and India (83,000 net tons, down 19%).
 
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 is comprised of 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.