Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the
US imported a total of 2,989,000 net tons (nt) of steel in August 2016, including 2,307,000 net tons (nt) of finished steel (down 8.5 percent and 6.6 percent, respectively, vs. July final data).
Year-to-date (YTD) through eight months of 2016 total and finished steel imports are 21,962,000 and 17,601,000 net tons (nt), down 22 percent and 23 percent, respectively, vs. the same period in 2015. Annualized total and finished steel imports in 2016 would be 32.9 and 26.4 million nt, down 15 percent and 16 percent, respectively, vs. 2015. Finished steel import market share was an estimated 25 percent in August and is estimated at 25 percent YTD.
Key finished steel products with a significant import increase in August compared to July are standard pipe (up 33 percent), wire rod (up 23 percent), structural pipe and tubing (up 18 percent) and hot rolled bars (up 15 percent). Tin plate (up 12 percent) had a significant year-to-date (YTD) increase vs. the same period in 2015.
In August, the largest volumes of finished steel imports from offshore were from South Korea (334,000 nt, down 22 percent from July final), Turkey (180,000 nt down 43 percent), Japan (177,000 nt, down 11 percent), Taiwan (143,000 nt, up 23 percent), Germany (128,000 nt, up 46 percent) and Vietnam (107,000 nt, up 68 percent).
For the first eight months of 2016, the largest offshore suppliers were South Korea (2,706,000 nt, down 26 percent vs. the same period in 2015), Turkey (1,695,000 nt, down 17 percent), Japan (1,242,000 nt, down 24 percent), Germany (830,000 nt, down 21 percent) and Taiwan (652,000 nt, down 27 percent). Vietnam (554,000 nt, up 328 percent) had a significant year-to-date (YTD) increase vs. the same period in 2015.