US steel imports down 5 percent in July

Thursday, 25 August 2011

The American Iron and Steel Institute (AISI) reported Wednesday that based on preliminary US Census Bureau data the US imported 2,584,000 net tons (nt) of steel in July, including 2.06 million nt of finished steel--down 5 percent and 4 percent, respectively, from June final data.

Despite the overall decline, hot rolled sheet imports were up 43 percent in July compared to June and hot dipped galvanized sheet and strip imports increased 11 percent. Meanwhile, rebar imports were up 40 percent year-to-date in July, hot rolled bar imports rose 35 percent and imports of oil country goods jumped 32 percent.

Annualized total and finished steel imports in 2011 would be 29.5 million nt and 22.5 million nt, respectively, up 23 percent and 20 percent compared to 2010. Finished steel import market share in July was an estimated 23 percent and is also 23 percent year-to-date.

In July, the largest volumes of finished steel imports from offshore were from South Korea (299,000 nt, down 7 percent), China (155,000 nt, down 4 percent), Japan (138,000 nt, up 11 percent), Australia (104,000 nt, up 167 percent) and Germany (86,000 nt, up 39 percent).

For the first seven months of 2011, the largest offshore suppliers have been South Korea (1,809,000 nt, up 67 percent), Japan (895,000 nt, up 20 percent) and China (716,000 nt, up 53 percent).

(sourced steelorbis)