The American Institute for International Steel (AIIS) has reported that imports declined in August 2010 by 11.2 percent compared to July 2010 according to preliminary data released by the Department of Commerce. "The decline in month on month imports was lead by a 21 percent decrease in imports of semifinished steel products from July to August, as domestic mills reduced their purchases of overseas semifinished materials in advance of many mills restarting their US melt shops during the period that these products were ordered in late spring/early summer," said David Phelps, president, AIIS.
US Steel imports from Canada fell 8 percent from July to August 2010, but that is still an 85.8 percent increase from last year at the same time. US imports from Brazil however, are up 356.5 percent, and US imports from Mexico are up 53 percent from July 2010.
"Total imports for the year to date period of 2010 compared to 2009 were up by 53.8 percent, reflecting improved market conditions over 2009. Tonnages remain at moderate levels however, with the steel market's recovery spotty largely due to the weak and still declining non-residential construction market. This remains a significant negative on the overall health of the American steel market," concluded Phelps.
Total Steel imports in August 2010 were 2.2 million net tons compared to 2.4 million tons in July 2010, a 11.2 percent decrease, and a 121 percent increase compared to August 2009. According to year-to-date figures, imports increased 53.8 percent compared to 2009 or from 10.6 million tons in 2009 to 16.3 million tons in 2010. The data show that imported semifinished products increased by 211.8 percent in August 2010 as compared to August 2009. For the year-to-date period, semifinished imports increased from 823 thousand tons in 2009 to 3,622 thousand tons in 2010, a 340.1 percent increase, based on preliminary reporting.