Steel imports decline 16 percent in February

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 1,777,000 net tons (NT) of steel in February, including 1,371,000 NT of finished steel (down 16 percent and 19 percent, respectively, from January final data).

Finished steel import market share in February was an estimated 18 percent and is 20 percent through 2 months of this year, a slight decline from the 21 percent for full year 2010.

In February 2011, compared to the month before, imports of reinforcing bars were up 63 percent; they are up 79 percent year-to-date. Other major products with significant year-to-date import increases vs. the same period last year include oil country goods (up 90 percent) and cut length plate (up 84 percent).

In February, the largest volumes of finished steel imports from offshore were from South Korea (183,000, down 15 percent), Japan (123,000 NT, down 5 percent), Turkey (70,000 up 96 percent), Germany (64,000 NT, down 34 percent) and Australia (53,000, down 29 percent). For the first 2 months of 2011, the largest offshore suppliers were South Korea (396,000, up 59 percent), Japan (252,000 NT, up 29 percent) and Germany (162,000 NT, up 150 percent).