The American Iron and Steel Institute (AISI) reported Tuesday that, based on preliminary Census Bureau data, the US recorded a 29 percent increase in total steel imports and a 15 percent increase in finished steel imports in October from final September census data.
Total steel imports in October were 1.56 million nt and finished steel imports were 1.18 million nt, both of which were the highest monthly totals since February. However, total and finished steel imports on an annualized basis are still down 50 percent and 45 percent respectively from 2008.
Census Bureau data released November 24 shows that the October change in steel import tonnage compared to September reflects a significant increase in reinforcing bars, which increased 105 percent; wire rods, which rose by 55 percent; hot rolled bars, up 42 percent; and line pipe, up 35 percent.
AISI noted that the largest volumes of finished steel imports from offshore sources to the US in October were from South Korea, at 102,000 nt (a 59 percent increase from September); Japan, at 91,000 nt (up 76 percent); Turkey, at 69,000 nt, (up significantly by 509 percent); the Netherlands, at 63,000 nt (up 170 percent); and India, at 52,000 nt, (a 32 percent increase). AISI said that finished steel imports from China through October would annualize at 1.6 million nt, which would be the highest of any offshore source, though still a 66 percent decrease from 2008.