Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported Tuesday that the US imported a total of 3,833,000 net tons (NT) of steel in July, including 3,058,000 net tons (NT) of finished steel (up 6.1 percent and 11.9 percent, respectively, vs. June final data). Year-to-date (YTD) total and finished steel imports are 24,940,000 and 18,635,000 net tons (NT), respectively, up 37 percent and 30 percent respectively, vs. 2013. Annualized total and finished steel imports in 2014 would be 42.8 and 31.9 million NT, up 33 percent and 29 percent respectively vs. 2013. Finished steel import market share was an estimated 29 percent in July and is estimated at 27 percent YTD.
Key finished steel products with a significant import increase in July compared to June are plates in coils (up 99 percent), sheets and strip all other metallic coatings (up 50 percent), heavy structural shapes (up 39 percent), line pipe (up 30 percent), hot rolled sheets (up 27 percent), hot rolled bars (up 16 percent) and oil country goods (up 11 percent). Major products with significant YTD import increases vs. the same period last year include plates in coils (up 84 percent), wire rods (up 83 percent), cold rolled sheets up 74 percent), sheets and strip galvanized hot dipped (up 58 percent), sheets and strip all other metallic coatings (up 54 percent), cut lengths plates (up 48 percent), hot rolled sheets (43 percent), mechanical tubing (38 percent), heavy structural shapes (up 38 percent), oil country goods (up 33 percent), tin plate (up 21 percent) and reinforcing bars (up 13 percent).
In July, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were from South Korea (560,000 NT, up 22 percent vs. June final), China (269,000 NT, up 17 percent), Russia (203,000 NT, up 112 percent), Japan (199,000 NT, up 44 percent) and Turkey (133,000 NT, down 34 percent). For seven months of 2014, the largest offshore suppliers were South Korea (3,170,000 NT, up 54 percent), China (1,787,000 NT, up 66 percent), Japan (1,190,000 NT, up 8 percent), Turkey 1,095,000 NT, up 37 percent) and Russia (799,000 NT, up 480 percent).
