US steel imports show year-on-year increase in November
The preliminary data published by the US Commerce Department shows that
US steel imports amounted to 2.8 million mts in November. November tonnage includes 2.2 million mts of finished steel. In both categories, imports declined by 11.7% and by 10.9%, respectively, compared to October, but year-on-year results were 52.7% higher in both categories.
The gain of nearly 50% in finished steel imports is more than three times the 14.3% increase in steel
consumption. As a result, the finished steel market share in this period has risen from 15.8% to 20.9%.
From October to November, the change in steel imports reflects decreases in
wire rods and line
pipe. Monthly changes in steel imports indicate decreases from
China,
Mexico,
Ukraine and
India.
In the first ten months of 2004, steel imports reached 26.7 million mts against 17.7 million mts recorded in the corresponding period of last year. The largest commodity increases were in blooms, billets, slabs,
wire rods and hot rolled sheet imports. The largest country exporters to the US were
Russia,
Brazil,
Mexico and
Turkey.
The data shows that
Turkey has exported 207'745 mts of finished steel to the US in November. This pace was 35.5% higher compared to October. Major import quantities of finished steel into US appear to be coming from EU,
Canada,
Turkey,
China and
Taiwan.