May 2008

February steel imports down by 8% from January

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the United States imported a total of 2,458,000 net tons (NT) of steel in February 2008, including 1,905,000 NT of finished steel (down 8 and 14 percent, respectively, vs. January final data).

Total and finished steel imports on an annualized basis are down 8 and 7 percent, respectively, vs. 2007. On an annualized basis, total imports of steel in 2008 would be 30.7 million NT.

For the first two months of 2008, products showing increases were Line Pipe (up 59%), Heavy Structural Shapes (up 19%), Hot Rolled Sheet (up 9%) and Oil Country Goods (up 6%).

For February, the largest volume of finished steel imports from offshore was from China (at 235,000 NT, down 14% from January). Other notable offshore suppliers were South Korea (151,000 NT, down 35%), Japan (88,000 NT, down 29%), Germany (88,000 NT, up 2%) and India (83,000 NT, down 19%).