Based on preliminary US Census Bureau data, the American Iron and Steel Institute (AISI) reported Tuesday that the US imported a total of 2,441,000 net tons (nt) of steel in February, including 1,819,000 net tons (nt) of finished steel--down 7 percent and 15 percent, respectively, versus January final data.
Year-to-date total and finished steel imports are 5,058,000 and 3,963,000 nt, respectively, down 9 percent and 8 percent compared to the same period in 2012. Annualized total and finished steel imports in 2013 would be 30.3 and 23.8 million nt, down 9 percent and 8 percent, each, respectively versus 2012. Finished steel import market share was an estimated 22 percent in February and is estimated at 23 percent year-to-date.
Key finished steel products with a significant import increase in February 2013 compared to January are cut lengths plates (up 44 percent) and plates in coils (up 24 percent). Major products with significant year-to-date import increases compared to the same period last year include sheets and strip hot dipped galvanized (up 22 percent), wire drawn (up 17 percent) and line pipe (up 11 percent).
In February, the largest volumes of finished steel imports from offshore were all from Asia and Europe: South Korea (249,000 nt and down 31 percent); China (143,000 nt and down 15 percent); Japan (126,000 nt and down 10 percent); Turkey (114,000 nt and down 15 percent); and Germany (100,000 nt and up 36 percent).
For the first two months of 2013, the largest offshore suppliers were South Korea, China, Japan, Turkey and Germany.