The American Iron and Steel Institute (AISI) reported Tuesday that based on preliminary Census Bureau data, the US imported 2.89 million nt of steel in March, including 2.16 million nt of finished steel, up 7 percent and 4 percent, respectively. Annualized total and finished steel imports in 2011 would be 33.7 and 25.8 million nt, respectively, each up 18 percent versus 2011. Finished steel import market share in March and year-to-date were both 23 percent, up from 22 percent from 2011.
Key finished steel products with significant import increases in March 2012 compared to February are line pipe (up 51 percent); cut length plates (up 43 percent); standard pipe (up 25 percent); wire drawn (up 24 percent); and oil country goods (up 20 percent). Major products with significant year-to-date import increases versus the same period last year include reinforcing bar (up 88 percent); cut length plates (up 66 percent); line pipe (up 62 percent); plates in coils (up 53 percent); and sheet and strip galvanized hot dipped (up 49 percent).
In March, the largest volumes of finished steel imports from offshore were from South Korea (271,000 nt and down 11 percent); Japan (179,000 nt and up 11 percent); Turkey (163,000 nt and down 10 percent); Germany (116,000 nt and up 61 percent); and China (104,000 nt and up 20 percent). For the first 3 months of 2012, the largest offshore suppliers were South Korea (925,000 nt and up 44 percent); Turkey (513,000 nt and up 231percent); and Japan (487,000 nt and up 31 percent).