The American Iron and Steel Institute (AISI) reported Tuesday that based on preliminary US Census Bureau data, the US imported 2.67 million nt of steel in February, reflecting a 5 percent drop from January final data. Finished steel imports accounted for 2.05 million nt of the total, 7 percent below finished steel imports in the previous month. Annualized total and finished steel imports in 2012 would be 33 and 25.5 million nt, respectively, up 16 percent and 17 percent, respectively versus 2011.
Finished steel import market share in February was an estimated 23 percent. Import market share through the first two months of this year is 23 percent, up from the 22 percent for full year 2012.
Still, wire rod, HDG, plates in coils and hot rolled bar imports registered significant month-on-month increases in February. Wire rod imports were up 77 percent; HDG sheet and strip imports climbed 39 percent; plates in coil imports were up 15 percent; and hot rolled bar imports jumped 11 percent.
Major products with significant year-to-date import increases compared to the same period last year include plates in coils (up 85 percent); reinforcing bar (up 79 percent), sheet and strip all other metallic coated (up 81 percent), heavy structural shapes (up 65 percent) and sheet and strip galvanized hot dipped (up 65 percent).
In February, the largest volumes of finished steel imports from offshore were from South Korea, Japan, Turkey, India and China.