US steel imports continue at highest level

US steel imports continue at highest level

The preliminary data issued by the US Commerce Department shows that US steel imports amounted to 3.1 million mts in September. This tonnage almost remained unchanged compared to the previous month. September tonnage includes 2.5 million mts of finished steel. In both categories, year-to-date results were 47% higher than the same period of last year. Finished steel imports in the third quarter of 2004 showed a rise of 18% compared to the previous quarter and 86% increase compared to the same period of last year. From August to September, the change in steel imports reflects increases in blooms, billets, slabs and wire rods. Decreases occurred primarily in reinforcing bars and standard pipe. Monthly changes in steel imports indicate increases from Brazil and Australia and decreases from Taiwan, Korea and Canada. In the first eight months of 2004, steel imports reached 20.2 million mts against 14.3 million mts recorded in the corresponding period of last year. The largest commodity increases were in blooms, billets, slabs, wire rods, hot rolled sheets and reinforcing bars. The largest country exporters to the US were Russia, Mexico, Turkey and Brazil. The data shows that Turkey has exported 150'592 mts of finished steel to the US in September. This pace was 16.1% higher compared to August. Major import quantities of finished steel into US appear to be coming from Canada, EU, Russia, China and Mexico.