Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported Tuesday that the US imported a total of 4,398,000 net tons (nt) of steel in October, including 3,396,000 nt of finished steel (up 12.8 percent and 14.9 percent, respectively, vs. September final data).
Year-to-date (YTD) total and finished steel imports are 36,963,000 and 27,812,000 nt, respectively, up 37 percent and 32 percent respectively, vs. 2013. Annualized total and finished steel imports in 2014 would be 44.4 and 33.4 million nt, up 38 percent and 34 percent respectively vs. 2013. Finished steel import market share was an estimated 31 percent in October and is estimated at 28 percent YTD.
Key finished steel products with a significant import increase in October compared to September are heavy structural shapes (up 48 percent), plates in coils (up 37 percent), tin plate (up 30 percent), sheets and strip all other metallic coatings (up 30 percent), line pipe (up 27 percent), reinforcing bars (up 25 percent), hot rolled sheets (up 23 percent) and hot rolled bars (up 17 percent). Major products with significant YTD import increases vs. the same period last year include wire rods (up 87 percent), plates in coils (up 86 percent), cold rolled sheets (up 84 percent), cut lengths plates (up 70 percent), sheets and strip hot dipped galvanized (up 57 percent), heavy structural shapes (up 53 percent), hot rolled sheets (up 43 percent), sheets and strip all other metallic coatings (up 42 percent), mechanical tubing (up 31 percent), tin plate (up 26 percent), oil country goods (up 20 percent) and reinforcing bars (up 14 percent).
In October, the largest volumes of finished steel imports from offshore were from South Korea (550,000 nt, up 43 percent vs. September final), China (368,000 nt, up 12 percent), Turkey (327,000 nt, up 88 percent) Japan (237,000 nt, up 36 percent) and Russia (119,000 nt, down 33 percent). For 10 months of 2014, the largest offshore suppliers were South Korea (4,563,000 nt, up 44 percent), China (2,710,000 nt, up 70 percent), Turkey (1,807,000 nt, up 67 percent), Japan (1,768,000 nt, up 10 percent) and Russia (1,200,000 nt, up 518 percent).