Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 3,586,000 net tons (NT) of steel in June, including 2,706,000 net tons(NT) of finished steel (down11.1% and 8.0%, respectively, vs. May final data). Year-to-date (YTD) total and finished steel imports are 21,082,000 and 15,552,000 net tons (NT), respectively, up 34% and 26% respectively, vs. 2013.
Annualized total and finished steel imports in 2014 would be 42.2 and 31.1 million NT, up 31% and 25% respectively vs. 2013.Finished steel import market share was an estimated 27% in June and is estimated at 27% YTD.
Key finished steel products with a significant import increase in June compared to May are cold rolled sheets (up 26%), cut lengths plates (up 26%) and tin plate (up 14%). Major products with significant YTD import increases vs. the same period last year include wire rods (up 100%), plates in coils (up 69%),cold rolled sheets(up 67%),sheets and strip galvanized hot dipped (up 51%), sheets and strip all other metallic coatings(up 48%),hot rolled sheets (42%),cut lengths plates (up 37%), mechanical tubing(34%), oil country goods (up 28%),heavy structural shapes (up 25%), reinforcing bars (up 15%) and tin plate (up 15%).
In June, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were from South Korea (457,000 NT, down 22 % vs. May final), China (230,000NT, down 25%), Turkey (189,000 NT, up 25%), Japan (138,000 NT, down 5%) and Germany (102,000NT, down 3%). For Six months of 2014, the largest offshore suppliers were South Korea (2,609,000 NT, up 49%), China (1,518,000 NT, up 69%), Japan (990,000 NT, up 3%), Turkey (951,000 NT, up 29%) and Russia (596,000 NT, up 344%).
Source – Source:Scrap Monster