US steel imports reach highest total since February 2002

US steel imports reach highest total since February 2002

The preliminary data released by the US Commerce Department shows that US steel imports amounted to 2.9 million mts in June, which was 600'000 mts higher than the preliminary May totals of 2.3 million mts. June tonnage includes 2.3 million mts of finished steel with a 14% rise compared to the previous month. In the first six months of the year, total and finished steel imports soared by 30% and 27% respectively compared to the same period of last year. From May to June, the change in steel imports reflects increases in hot rolled sheets, wire rods, blooms, billets and slabs. Monthly changes in steel imports indicate increases from Russia, Brazil, Turkey and China. In the first five months of 2004, steel imports reached 11.1 million mts against 9.3 million mts recorded in the corresponding period of last year. The largest commodity increases were in blooms, billets, slabs and wire rods. The largest country exporters to the US were Brazil, Mexico, Turkey and Russia. The data marks that Turkey has exported 188'694 mts of finished steel to the US in June. This pace was 45.5% higher compared to May. Major import quantities of finished steel into US appear to be coming from EU, Canada, Turkey, Mexico and Russia.