Steel import totals in US close to all-time highs

According to data released today from the American Iron and Steel Institute (AISI), the US imported a total of 4,197,000 net tons (nt) of steel in July 2006, the second highest monthly total in US history, exceeded only by the 4,418,000 nt imported in August 1998. The 4.197 million nt total for July includes 3.368 million nt of finished steel. Imports of the following products saw significant increases compared to June 2006: line pipe, plates in coil, bars-light shapes, semi-finished steel, OCTG, coated, and galvanized steels. Year-to-date imports of steel and finished steel products are up 38 and 39 percent, respectively, compared to YTD imports in July 2005. On an annualized basis, total and finished steel imports (up 49 and 52 percent from the same period last year, respectively) would set all-time records.