Steel Imports Slip 17% in May
06/24/2009 - The U.S. imported a total of 1,020,000 net tons of steel in May 2009, an 11% decrease vs. April final data, according to the latest report from AISI.
The U.S. imported a total of 1,020,000 net tons of steel in May 2009, an 11% decrease vs. April 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 total May imports included 1,002,000 net tons of finished steel, reflecting an 11% decrease vs. April final data.
On an annualized basis, total steel imports are down 42% vs. 2008, while finished steel imports are down 33%. Annualizing total imports of steel would result in 18.6 million net tons for the full year 2009. Finished steel import market share was an estimated 22% in May, and year-to-date market share (through five months) is an estimated 29%.
Key products with increases in May 2009 compared to April include
- Reinforcing Bar, +44%
- Oil Country Goods, +23%
- Plates-in-Coils, +21%
For YTD 2009 vs. the same period last year, OCTG imports (led by China) are up 30%.
In May, the largest volume of finished imports from offshore was from China (148,000 net tons, up 49% from April). The May tonnage from China was 15% of all finished imports and, based on YTD data, finished steel imports from China in 2009 would annualize at 2.8 million net tons. Other major offshore suppliers in May included South Korea (118,000 net tons, up 66% from April), Japan (61,000 net tons, down 27%) and Taiwan (33,000 net tons, down 3%). For YTD 2009 vs. the same period last year, finished imports are up significantly for a number of countries, including China (up by 23%).
