US steel imports increase 17.5 percent YTD through November

Wednesday, 27 December 2017 20:51:24 (GMT+3)   |   San Diego
       

According to preliminary US Census Bureau data, the American Iron and Steel Institute (AISI) reported that the US imported a total of 2,718,000 net tons (nt) of steel in November 2017, including 2,126,000 nt of finished steel (down 14.6 and 16.8 percent, respectively, against October final data). Year-to-date (YTD) through November 2017, total and finished steel imports are 35,632,000 and 27,637,000 nt, up 17.5 and 14.3 percent, respectively, compared to the same period in 2016. Annualized total and finished steel imports in 2017 are estimated at 38.9 and 30.1 million nt, up 17.7 and 14.5 percent, respectively, compared to 2016.

Finished steel import market share was an estimated 25 percent in November and is estimated at 27 percent for the eleven month YTD period. During the summer, especially in June and July 2017, the steel import market share reached 30 percent.

Major products with significant YTD increases compared to the same eleven month period in 2016 include oil country goods (3,187,735 nt, up 223 percent), line pipe (2,098,900 nt, up 69 percent), standard pipe (1,090,142 nt, up 41 percent), mechanical tubing (618,760 nt, up 31 percent), hot rolled bars (1,334,647 nt, up 25 percent), sheets and strip all other metallic coatings (1,133,477 nt, up 21 percent), cold rolled sheets (2,722,928 nt, up 18 percent) and sheets and strip hot dipped galvanized (3,212,813 nt, up 15 percent). Ingots, billets and slabs category, which is the largest import category, increased 30 percent to 7,953,428 nt in the eleven month period in 2017 from 6,111,260 nt in the same period in 2016.

For the eleven month period compared to the same period in 2016, finished steel import products increased 14.3 percent to 27,637,000 nt. For the top six countries with finished steel imports to the US, South Korea increased 0.4 percent to 3,558,000 nt, Turkey decreased 5.7 percent to 2,133,000 nt, Japan decreased 15.5 percent to 1,422,000 nt, Germany increased 17.7 percent to 1,301,000 nt, Taiwan increased 28.6 to 1,204,000 nt, and Brazil increased 16.2 percent to 891,000 nt.


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