The American Iron and Steel Institute (AISI) reported Tuesday that based on preliminary data from the US Census Bureau, the US imported 2,692,000 net tons (nt) of steel in May and 1,838,000 nt of finished steel. Compared to April final data, total steel imports are up 6 percent, however finished steel imports are down 5 percent. The AISI also said that finished steel import market share in May was an estimated 21 percent and is also 21 percent year-to-date.
Despite a decline in overall finished steel imports in May, there were notable increases in imports of some steel mill products. Imports of wire rod were up 35 percent in May compared to April; plates in coils imports rose 23 percent; oil country goods imports were up 15 percent and imports of heavy structural shapes increased by 14 percent. On a year-on-year basis, rebar imports were up 55 percent, oil country goods imports increased by 41 percent and hot rolled bars imports rose 25 percent.
In May, the largest volumes of finished steel imports from offshore were from South Korea (213,000 nt) although imports were down 31 percent from April. Other major steel exporters to the US in May were Japan (131,000 nt and up 16 percent); China (119,000 nt and up 23 percent); Germany (78,000 nt and up 8 percent) and Turkey (69,000 nt and down 42 percent).