US steel imports decline slightly in October

US steel imports decline slightly in October

The preliminary data published by the US Commerce Department shows that US steel imports amounted to 2.9 million mts in October. October tonnage includes 2.3 million mts of finished steel. In both categories, imports declined by 11.7% and by 9.2%, respectively, compared to September, but year-to-date results were 50.2% and 49.7% higher than the same period last year. The gain of nearly 50% in finished steel imports is more than three times the 14.4% increase in steel consumption. As a result, the finished steel market share in this period has risen from 15.9% to 20.5%. From September to October, the change in steel imports reflects decreases in blooms, billets, slabs and wire rods. An increase occurred primarily in cold rolled sheets. Monthly changes in steel imports indicate decreases from Brazil, Mexico and Russia. In the first nine months of 2004, steel imports reached 23.5 million mts against 16 million mts recorded in the corresponding period of last year. The largest commodity increases were in blooms, billets, slabs, wire rods and hot rolled sheet imports. The largest country exporters to the US were Russia, Mexico, Brazil and Turkey. The data shows that Turkey has exported 138'799 mts of finished steel to the US in October. This pace was 10.5% lower compared to September. Major import quantities of finished steel into US appear to be coming from EU, Canada, China, Russia and Mexico.