The American Institute for International Steel (AIIS) announced Monday that imports declined in October compared to September by 13.7 percent. "Imports slid in October as the US market softened during the summer months following the short lived healthier market of late spring. During the summer, domestic mills returned capacity into service and due to conservative inventory management by service centers and customers, combined with weak demand, the US steel market began softening, also affecting import ordering. October arrivals from non-NAFTA sources reflect these conditions," said David Phelps, president, AIIS.
"The steel market in 2010 improved substantially over 2009 but demand remains stubbornly weak. Imports increased in the year to date period by 50 percent, but will not return to healthy levels until non-residential construction and other steel consuming markets improve substantially," concluded Phelps.
Total steel imports in October 2010 were 1.8 million net tons (nt) compared to 2.1 million nt in September 2010, a 13.7 percent decrease, and a 10.1 percent increase compared to October 2009. According to year-to-date figures, imports increased 50.2 percent compared to 2009 or from 13.4 million nt in 2009 to 20.2 million nt in 2010. The data show that imported semi-finished products decreased from 383,000 nt in October 2009 to 302,000 nt in October 2010, a 21.1 percent increase. For the year-to-date period, semi-finished imports increased from 1,391 thousand nt in 2009 to 4,416 thousand nt in 2010, a 217.5 percent increase.