The American Iron and Steel Institute (AISI) reported Tuesday that based on preliminary Census Bureau data, that the US imported a total of 2,540,000 net tons (nt) of steel in October, including 2,059,000 nt of finished steel (down 2 percent and up 3 percent, respectively, from September final data). Year-to-date finished steel imports are up 18 percent versus the same period in 2011. Annualized total and finished steel imports in 2012 would be 33.9 and 26.3 million nt, up 19 percent and 21 percent, each, respectively compared 2011. Finished steel import market share in October was an estimated 25 percent and is estimated at 24 percent year-to-date.
Key finished steel products with a significant import increase in October 2012 compared to September are heavy structural shapes (up 56 percent); tin plate (up 40 percent); line pipe (up 39 percent); rebar (up 27 percent); hot rolled bars (up 16 percent); and sheets and strip galvanized hot dipped (up 12 percent). Major products with significant year-to-date import increases compared to the same period last year include rebar (up 50 percent); line pipe (up 39 percent); sheets & strip galvanized hot dipped (up 36 percent); and oil country goods (up 29 percent).
In October, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were South Korea (372,000 nt and up 16 percent); Japan (179,000 nt and up 8 percent); China (117,000 nt and up 14 percent); Germany (103,000 nt and down 8 percent); and The Netherlands (71,000 nt and up 85 percent). For the first 10 months of 2012, the largest offshore suppliers were South Korea (3,181,000 nt and up 30 percent); Japan (1,697,000 nt and up 38 percent), China (1,309,000 nt and up 23 percent); Turkey (1,185,000 nt and up 89 percent); and Germany (1,035,000 nt and up 29 percent).