Finished steel imports decrease in August

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the United States imported a total of 2,440,000 net tons (NT) of steel in August, including 1,813,000 NT of finished steel (down 7 percent and 13 percent, respectively, from July final data). Finished steel import market share in August was an estimated 20 percent and is 22 percent year-to date (YTD).

Steel Imports

Key finished steel products with significant import increases in August 2011 compared to July include reinforcing bar (up 88 percent), line pipe (up 22 percent) and cut length plates (up 16 percent). Major products with significant YTD import increases versus the same period last year include cut length plates (up 49 percent), plates in coils (up 36 percent), reinforcing bar (up 31 percent), hot rolled bar (up 29 percent), cold rolled sheets (up 28 percent), oil country goods (up 26 percent) and hot rolled sheets (up 19 percent).

In August, the largest volumes of finished steel imports from offshore were from South Korea (200,000 NT, down 34 percent), China (119,000 NT, down 23 percent), Japan (91,000 NT, down 35 percent) and India (84,000 NT, up 58 percent).

For the first 8 months of 2011, the largest offshore suppliers have been South Korea (2,013,000 NT, up 57 percent), Japan (988,000 NT, up 11 percent) and China (837,000 NT, up 48 percent).