US February steel imports show monthly drop

US February steel imports show monthly drop

The US imported 2.1 million metric tons of steel in February 2005, including 1.6 million metric tons of finished steel, according to preliminary data from the US Commerce Department. Total and finished steel imports in February dropped 18% and 20.2% respectively from January 2005, but rose 21.4% and 19.7% respectively year on year. The change in steel imports from January to February marks decreases in hot rolled sheets, hot dipped galvanized sheets, strip and cold rolled sheets. Monthly changes in steel imports indicate decreases from Brazil. The year to date final statistics through January 2005 showed steel imports totaled 2.4 million metric tons, an increase of 300'000 metric tons from the 2.1 million metric tons through January 2004. The largest commodity increases were in hot dipped galvanized sheets, strip, cold rolled sheets and hot rolled sheets. Brazil, Taiwan and China led the way in exports to the US. The data show that Turkey exported 102'511 metric tons of finished steel to the US in February 2005. This pace is 11.7% lower than January 2005. Major import quantities of finished steel appear to be coming from Canada, EU, Korea, Mexico and China.