U.S. Steel Imports Decline Again in March
04/23/2013 - U.S. steel imports declined again in March by 1.3% compared to February based on preliminary government reporting analyzed by the American Institute for International Steel (AIIS).
U.S. steel imports declined again in March by 1.3% compared to February based on preliminary government reporting analyzed by the American Institute for International Steel (AIIS).
“After months of declines in arrivals in response to weak economic conditions and steel demand, the only good news in the latest report is that the decline is noticeably smaller, and imports from our NAFTA partners showed an increased, hopefully portending better news going forward. The long-awaited spring rebound in construction may be evidenced in the increase in imports of rebar,” noted David Phelps, president, AIIS.
Steel imports for the first quarter of 2013 compared to 2012 declined by 11.7%.
“As has been discussed in previous press releases and AIIS’s Steel News, the dramatic level of tax and public policy uncertainty clearly affected the US economy and steel market early in 2013 and played a significant role in delaying the normal seasonal rebound. The data for the first quarter show the impact of delayed decision-making by corporations in these lower levels of steel imports. We remain optimistic about the market strengthening as we move through the second quarter,” concluded Phelps.
Total steel imports in March 2013 were 2.475 million tons compared to 2.508 million tons in February 2013, 1.3% decrease, and a 19.3% decrease compared to March 2012. For the year- to - date period, imports decreased from 8.603 million tons in the first three months of 2012 to 7.600 million tons in the same 2013 period, an 11.7% decrease.
The data show that imported semifinished products decreased by 40.1% in March 2013 compared to March 2012, from 850 thousand tons in 2012 to 509 thousand tons in 2013, based on preliminary reporting. For the year- to - date period, imported semifinished products decreased from 2.099 million tons in the first three months of 2012 to 1.604 million tons in the same 2013 period, a 23.6% decrease.
The American Institute for International Steel is the only steel related association which supports free trade. The Institute accomplishes its mission through advocacy, networking, communications and education.
