Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported Wednesday that the US imported a total of 3,667,000 net tons nt of steel in August, including 2,768,000 net tons (nt) of finished steel (down 5.0 percent and 10.2 percent, respectively, vs. July final data). Year-to-date (YTD) total and finished steel imports are 28,634,000 and 21,430,000 net tons nt, respectively, up 36 percent and 29 percent respectively, vs. 2013. Annualized total and finished steel imports in 2014 would be 43.0 and 32.1 million nt, up 34 percent and 30 percent respectively vs. 2013. Finished steel import market share was an estimated 27 percent in August and is estimated at 27 percent YTD. Key finished steel products with a significant import increase in August compared to July are reinforcing bars (up 191 percent) and wire rods (up 22 percent).
Major products with significant YTD import increases vs. the same period last year include plates in coils (up 85 percent), wire rods (up 78 percent), cold rolled sheets (up 73 percent), cut lengths plates (up 58 percent), sheets and strip hot dipped galvanized (up 56 percent), sheets and strip all other metallic coatings (up 52 percent), heavy structural shapes (up 44 percent), hot rolled sheets (up 37 percent), mechanical tubing (up 36 percent), oil country goods (up 26 percent), tin plate (up 21 percent) and reinforcing bar (up 14 percent).
In August, the largest volumes of finished steel imports from offshore were from South Korea (450,000 nt, down 21 percent vs. July final), China (226,000 nt, down 16 percent), Turkey (210,000 nt, up 59 percent), Japan (165,000 nt, down 18 percent) and Taiwan (130,000 nt, up 23 percent). For eight months of 2014, the largest offshore suppliers were South Korea (3,626,000 nt, up 49 percent), China (2,014,000 nt, up 70 percent), Japan (1,356,000 nt, up 5 percent), Turkey (1,306,000 nt, up 47 percent) and Russia (903,000 nt, up 511 percent).
