Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the
US imported a total of 3,586,000 net tons (nt) of steel in June, including 2,706,000 nt of finished steel (down 11.1 percent and 8.0 percent, respectively, vs. May final data). Year-to-date (YTD) total and finished steel imports are 21,082,000 and 15,552,000 nt, respectively, up 34 percent and 26 percent respectively, vs.2013. Annualized total and finished steel imports in 2014 would be 42.2 and 31.1 million nt, up 31 percent and 25 percent respectively vs. 2013. Finished steel import market share was an estimated 27 percent in June and is estimated at 27 percent YTD.
Key finished steel products with a significant import increase in June compared to May are cold rolled sheets (up 26 percent), cut lengths plates (up 26 percent) and tin plate (up 14 percent). Major products with significant YTD import increases vs. the same period last year include wire rods (up 100 percent), plates in coils (up 69 percent), cold rolled sheets (up 67 percent), sheets and strip galvanized hot dipped (up 51 percent), sheets and strip all other metallic coatings (up 48 percent), hot rolled sheets (42 percent), cut lengths plates (up 37 percent), mechanical tubing (34 percent), oil country goods (up 28 percent), heavy structural shapes (up 25 percent), reinforcing bars (up 15 percent) and tin plate (up 15 percent).
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 percent vs. May final), China (230,000 nt, down 25 percent), Turkey (189,000 nt, up 25 percent), Japan (138,000 nt, down 5 percent) and Germany (102,000 nt, down 3 percent). For six months of 2014, the largest offshore suppliers were South Korea (2,609,000 nt, up 49 percent), China (1,518,000 nt, up 69 percent), Japan (990,000 nt, up 3 percent), Turkey (951,000 nt, up 29 percent) and Russia (596,000 nt, up 344 percent).