US steel imports recede in October

US steel imports recede in October

Latest Census Bureau preliminary data bearing imported steel figures into the US reveals a total tonnage of 2'962'999 net tons for October, down by 8.5% from September figure. Finished steel imports with a decreased of 21.6% versus September, amount,ng to 2'025'000 net tons are included in this tonnage. Year to date total import levels are down by 7.8% compared to last year, however year to date finished steel imports are only 1% lower, according to AISI reports. The average import customs values of the finished products are below their historic (1980-2000) averages. Furthermore, hot rolled sheet, cold rolled sheet spot prices are well below the 21-year historic averages. Accordingly, AISI authorities are still in defense of the Bush administration's safeguard measures on steel imports, emphasizing the declining trend of steel prices in the US despite ongoing high levels of imports, which is in contrast with the rising trend of prices in much of the rest of the world, claiming that the is an evidence of these safeguards' benefits to the US steel industry. Year to date figures reveal growth for products of HR strip, HR sheet, semi finished steel, HDG sheet and strip, other metallic coated sheet and strip, plate in coil and wire rod. Furthermore significant rise is seen in monthly import figures of semi finished steel, standard pipe, oil country goods, bars-light shapes, plate in coils, HR bars, HR strip and HDG sheet and strip.