June finished steel imports down by 13 percent
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,593,000 net tons (NT) of steel in June, including 2,098,000 NT of finished steel (down 15 and 13 percent each, respectively, from May final data). Year-to-date (YTD) finished imports are up 22 percent versus the same period in 2011. Finished steel import market share in June was 23 percent and is 24 percent YTD.
A key finished steel product with a significant import increase in June 2012 compared to May is tin plate (up 20 percent). Major products with significant YTD import increases versus the same period last year include reinforcing bar (up 55 percent), plates – cut lengths (up 51 percent), oil country goods (up 40 percent), sheets and strip – all other metallic coatings (up 38 percent) and sheets and strip galvanized hot dipped (up 38 percent).
In June, the largest volumes of finished steel imports from offshore were from South Korea (293,000 NT, down 14 percent), China (174,000 NT, up 1 percent), Japan (131,000 NT, down 30 percent), Germany (121,000 NT, no change) and Turkey (88,000 NT, down 33 percent). For the first 6 months of 2012, the largest offshore suppliers were South Korea (1,866,000 NT, up 24 percent), Japan (982,000 NT, up 30 percent), Turkey (905,000 NT, up 100 percent), China (785,000 NT, up 40 percent) and Germany (635,000 NT, up 31 percent).