Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported Tuesday that the US imported a total of 2,475,000 net tons (nt) of steel in August, including 1,929,000 nt of finished steel (down 11 percent and 13 percent, respectively, from July final data). Year-to-date finished steel imports, however, are up 18 percent versus the same period in 2011. Annualized total and finished steel imports in 2012 would be 34.3 and 26.6 million nt, up 20 and 22 percent, each, respectively compared to 2011. Finished steel import market share in August was an estimated 21 percent and is estimated at 24 percent year-to-date.
Despite the month-to-month drop, a number of finished steel products still experienced major import increases in August. Key finished steel products with a significant import increase in August 2012 compared to July are heavy structural shapes (up 59 percent); reinforcing bar (up 55 percent); tin plate (up 29 percent); plates - cut lengths (up 22 percent); and cold rolled sheets (up 20 percent). Major products with significant year-to-date import increases versus the same period last year include reinforcing bar (up 48 percent); line pipe (up 43 percent); plates - cut lengths (up 37 percent) and sheets and strip galvanized hot dipped (up 33 percent).
In August, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were South Korea (193,000 nt and down 45 percent); China (157,000 nt and up 32 percent); Turkey (131,000 nt and up 254 percent); Japan (130,000 nt and down 34 percent); and Germany (92,000 nt and up 3 percent). For the first eight months of 2012, the largest offshore suppliers were South Korea (2,431,000 nt and up 21 percent); Japan (1,328,000 nt and up 34 percent); China (1,083,000 nt and up 29 percent); Turkey (1,072,000 nt and up 100 percent); and Germany (818,000 nt and up 25 percent).