Based on preliminary data from the US Census Bureau, the US imported a total of 2.6 million net tons (nt) of steel in June, including 2.1 million nt of finished steel (down 15 and 13 percent, respectively, from May final data). The American Iron and Steel Institute (AISI) said that tear-to-date finished imports are up 22 percent versus the same period in 2011. Annualized total and finished steel imports in 2012 would be 34.8 and 27.0 million nt, respectively, up 22 and 24 percent, each, respectively versus 2011. Finished steel import market share in June was 23 percent and is 24 percent year-to-date.
David Phelps, president of the American Institute for International Steel (AIIS), said that "Demand softened in the second quarter and with excess supply and buyers taking more conservative positions on inventory, import ordering from offshore suppliers early in the quarter likewise declined as well. Slabs and other semifinished steel products registered the largest product decline in the month as domestic mills cut back on their purchases of imported material as well."
"June was the first month of 2012 when arrivals were lower than the corresponding month in 2011. The two products driving the numbers in 2012 were semifinished steel and OCTG, reflecting the strength of these two markets so far in 2012," concluded Phelps.