Based on preliminary Census Bureau data released Tuesday, the American Iron and Steel Institute (AISI) reported that the US imported a total of 2,582,000 net tons (nt) of steel in July, including 2,028,000 nt of finished steel (down 8 percent each, respectively, from June final data). Year-to-date finished steel imports, however, are up 19 percent versus the same period in 2011. Annualized total and finished steel imports in 2012 would be 34.7 and 26.8 million nt, respectively, up 22 and 23 percent, respectively, compared with 2011. Finished steel import market share in July was an estimated 23 percent and is estimated at 24 percent year-to-date.
Finished steel products with a significant import increase in July 2012 compared to June are plates in coils (up 23 percent); line pipe (up 22 percent); and cold finished bars (up 12 percent). Major products with significant year-to-date import increases over the same period last year include reinforcing bar (up 54 percent); line pipe (up 45 percent); plates - cut lengths (up 42 percent); oil country goods (up 36 percent); and sheets & strip galvanized hot dipped (up 32 percent).
In July, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were South Korea (285,000 nt and down 9 percent); Japan (169,000 nt and up 12 percent); China (116,000 nt and down 41 percent); Italy (95,000 nt and down 56 percent); and Germany (87,000 nt and down 30 percent). For the first seven months of 2012, the largest offshore suppliers were South Korea (2,171,000 nt and up 20 percent); Japan (1,171,000 nt and up 31 percent); Turkey (939,000 nt and up 94 percent); China (923,000 nt and up 29 percent); and Germany (724,000 nt and up 27 percent).