US steel imports maintain uptrend

US steel imports maintain uptrend

Based on the preliminary data published by US Commerce Department, US steel imports amounted to 2.3 million mts in May, indicating a rise of 4% compared to April. This May tonnage includes 1.8 million mts of finished steel with a 6% decrease compared to the previous month. In the first five months of the year, total and finished steel imports were up by 16% and 14% respectively compared to the same period of last year. From April to May, the change in steel imports reflects increases in blooms, billets, slabs and cold rolled sheets. Monthly changes in steel imports indicate increases from Brazil, Germany and Australia. In May, US had fewer imports from Turkey. In the first four months of 2004, steel imports reached 8.4 million mts against 7.5 million mts recorded in the corresponding period of last year. The largest commodity increases were in wire rods, blooms, billets and slabs. The largest country exporters to the US were Mexico, Canada, Brazil and Turkey. The data shows that Turkey has exported 119'750 mts of finished steel to the US in May. This pace was 48.6% lower compared to April. Major import quantities of finished steel into US appear to be coming from Canada, EU, Mexico, Turkey and Korea.