The US Commerce Department reported Tuesday that US Census Bureau data show that preliminary May steel imports were valued at $3.2 billion in May compared to $3 billion in April. The American Iron and Steel Institute (AISI) said that the US imported a total of 2,945,000 net tons (nt) of steel in May, including 2,323,000 nt of finished steel (down 6 percent each, respectively, from April final data). The 2.3 million tons of finished steel imports in May was the second highest monthly total in 2012, below only the April tonnage. Annualized total and finished steel imports in 2012 would be 35.3 and 27.1 million nt, respectively, each up 24 percent versus 2011. Finished steel import market share in May and year-to-date were 24 percent each, respectively.
The April change in steel imports based on metric tonnage reflected an increase primarily in plates in coils and hot rolled sheets. An increase occurred primarily with Russia; a decrease occurred primarily with Japan.
Cold rolled sheet imports increased 38 percent in May compared to April; standard pipe was up 28 percent; oil country goods increased 25 percent; hot rolled bars climbed 14 percent and mechanical tubing imports saw an 11 percent gain. Major products with significant year-to-date import increases versus the same period last year include reinforcing bar (up 60 percent); plates - cut lengths (up 57 percent); sheets and strip all other metallic coatings (up 51 percent); line pipe (up 47 percent); and sheets and strip galvanized hot dipped (up 45 percent).
"As has been evident in the AIIS Monthly Importer Survey, import ordering has been softening for several months and now, arrivals have begun their predictable decline. Imports from our NAFTA partners as well are showing the impact of the softening of market conditions as well, which portends continued softening in the marketplace and future ordering from non-NAFTA sources will remain weak at least in the near term," said David Phelps, President of the American Institute for International Steel.