US steel imports show year-on-year increase in November

US steel imports show year-on-year increase in November

The preliminary data published by the US Commerce Department shows that US steel imports amounted to 2.8 million mts in November. November tonnage includes 2.2 million mts of finished steel. In both categories, imports declined by 11.7% and by 10.9%, respectively, compared to October, but year-on-year results were 52.7% higher in both categories. The gain of nearly 50% in finished steel imports is more than three times the 14.3% increase in steel consumption. As a result, the finished steel market share in this period has risen from 15.8% to 20.9%. From October to November, the change in steel imports reflects decreases in wire rods and line pipe. Monthly changes in steel imports indicate decreases from China, Mexico, Ukraine and India. In the first ten months of 2004, steel imports reached 26.7 million mts against 17.7 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, Brazil, Mexico and Turkey. The data shows that Turkey has exported 207'745 mts of finished steel to the US in November. This pace was 35.5% higher compared to October. Major import quantities of finished steel into US appear to be coming from EU, Canada, Turkey, China and Taiwan.