Steel imports increase 14 percent in August
Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the U.S. imported a total of 2,870,000 net tons (NT) of steel in August, including 2,199,000 NT of finished steel (up 13.9 percent and 9.8 percent respectively, vs. July final data). Year-to-date (YTD) total and finished steel imports are 21,123,000 and 16,569,000 NT respectively, down 9 percent and 7 percent vs. 2012. Annualized total and finished steel imports in 2013 would be 31.7 and 24.9 million NT, down 5 percent and 4 percent respectively vs. 2012. Finished steel import market share was an estimated 24 percent in August and is estimated at 23 percent YTD.
Key finished steel products with a significant import increase in August 2013 compared to July are reinforcing bars (up 117 percent), oil country goods (up 62 percent), sheets and strip galvanized hot dipped (up 50 percent), cold rolled sheets (up 27 percent), sheets and strip all other metallic coatings (up 21 percent), standard pipe (up 15 percent) and plates in coils (up 13 percent). Major products with significant YTD import increases vs. the same period last year include reinforcing bars (up 13 percent).
In August, the largest volumes of finished steel imports from offshore were mostly from Asia and Europe. They were from South Korea (355,000 NT, up 17 percent vs. July final), Japan (182,000 NT, up 23 percent), Argentina (111,000 NT, up 937 percent), China (109,000 NT, down 38 percent) and Turkey (93,000 NT, up 59 percent).