The American Iron and Steel Institute (AISI) reported Tuesday that, based on preliminary census data, the US imported a total of 1.55 million nt of steel in February 2009, 1.44 million nt of which was finished steel, reflecting respective decreases of 34 percent and 33 percent from final January total and finished steel census data.
Furthermore, based on the import data for the first two months of the year, total steel imports into the US would annualize at approximately 21.6 million mt in 2009, which would be a 26 percent decline from 2008.
However, certain steel products such as cold finished bars, plates in coils and hot rolled sheets all recorded import increases in February from January, at 22 percent, 14 percent and nine percent respectively.
The foreign source supplying the largest volume of finished steel products to the US in February was China at 268,000 nt, reflecting a 39 percent decline from January. Imported tonnage from China represented 19 percent of all finished imports in February, and would annualize at an estimated 4.2 million nt in 2009. Other major import suppliers during February include South Korea, at 139,000 nt (down 47 percent from January); Japan, at 99,000 nt (down 33 percent); India, at 75,000 nt, (down seven percent); and Turkey, at 67,000 nt, (down 40 percent).
Meanwhile, Brazil's supplies of finished steel tonnage to the US in February increased to 58,000 nt, which is a 39 percent increase from January.