The Specialty Steel Industry of North America released statistical data on imports, US consumption, and import penetration for year-to-date July 2012 on Monday. The data represents US consumption, imports, and import penetration for year-to-date July 2012 compared to the same 2011 seven month period.
The following data is presented by specialty steel product line, total stainless steel, and total specialty steel:
- Stainless steel sheet/strip: Imports in year-to-date July 2012 were 266,511 tons, a 6.4 percent increase compared to year-to-date July 2011; US consumption was 1,008,373 tons, a 4.7 percent increase; seven month import penetration was 26.4 percent, a 0.4 percentage point increase from 2011.
- Stainless steel plate: Imports in year-to-date July 2012 were 142,520 tons, a 33.7 percent increase compared to year-to-date July 2011; US consumption was 272,446 tons, a 27.8 percent increase; seven month import penetration was 52.3 percent, a 2.3 percentage point increase from 2011.
- Stainless steel bar: Imports in year-to-date July 2012 were 91,827 tons, a 7.1 percent increase compared to year-to-date July 2011; US consumption was 161,016 tons, a 2.3 percent increase; seven month import penetration was 57 percent, a 2.5 percentage point increase from 2011.
- Stainless steel rod: Imports in year-to-date July 2012 were 19,581 tons, a 7.3 percent increase compared to year-to-date July 2011; US consumption was 44,618 tons, a 6 percent decrease; seven month import penetration was 43.9 percent, a 5.5 percentage point increase from 2011.
- Stainless steel wire: Imports in year-to-date July 2012 were 28,279 tons, a 1.8 percent increase compared to year-to-date July 2011; US consumption was 34,896 tons, a 3.3 percent decrease; seven month import penetration was 81 percent, a 4.1 percentage point increase from 2011.
Imports of total stainless steel (comprising the foregoing product lines) in year-to-date July 2012 were 548,719 tons, a 12.3 percent increase compared to year-to-date July 2011; US consumption was 1,521,348 tons, a 7.3 percent increase; seven month import penetration was 36.1 percent, a 1.6 percentage point increase from 2011.
- Alloy tool steel: Imports in year-to-date July 2012 were 78,980 tons, a 26.6 percent increase compared to year-to-date July 2011; US consumption and import penetration were not calculable.
- Electrical steel: Imports in year-to-date July 2012 were 71,524 tons, a 11.4 percent increase compared to YTD July 2011; US consumption and import penetration were not calculable.
Imports of total specialty steel (comprising stainless steel, alloy tool steel and electrical steel) in year-to-date July 2012 were 699,223 tons, a 13.6 percent increase compared to year-to-date July 2011; US consumption and import penetration were not calculable.
"Total specialty steel imports year-to-date continue to grow each month over the same period in 2011," according to David A. Hartquist of Kelley Drye & Warren and counsel to SSINA. "Through July, imports are up 13.6 percent over last year, far exceeding the growth in the US market."