Based on preliminary data from the US Census Bureau, the American Iron and Steel Institute (AISI) reported Wednesday that the US imported a total of 2.34 million nt of steel in December, including 1.65 million nt of finished steel (down 14 percent and 19 percent, respectively, from November final data). Preliminary total and finished steel imports for 2012 are 33.3 and 25.7 million nt, up 17 percent and 18 percent, each, respectively versus 2011. Finished steel import market share in December was an estimated 20 percent and is estimated at 24 percent for full year 2012.
Despite the overall decline, a key finished steel product with a significant import increase in December 2012 compared to November was hot rolled sheets (up 37 percent). Major products with significant full year 2012 import increases compared 2011 include rebar (up 49 percent); line pipe (up 40 percent); sheets & strip galvanized hot dipped (up 36 percent); oil country goods (up 24 percent); sheets and strip all other metallic coatings (up 22 percent) and cut lengths plates (up 19 percent).
In December, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were China (164,000 nt and up 3 percent); South Korea (134,000 nt and down 55 percent); Germany (92,000 nt and down 9 percent); Japan (80,000 nt and down 44 percent); and Turkey (49,000 nt and down 56 percent).
For full year 2012, the largest offshore suppliers were South Korea, Japan, China, Turkey and Germany.