AISI: Steel Imports Up 19% Year-To-Date Through October
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 3,119,000 net tons (NT) of steel in October 2017, including 2,493,000 net tons (NT) of finished steel (unchanged and down 0.4%, respectively, vs. September final data). Year-to-date (YTD) through ten months of 2017, total and finished steel imports are 32,850,000 and 25,449,000 NT, up 19.4% and 15.4% respectively, vs. the same period in 2016. Annualized total and finished steel imports in 2017 would be 39.4 and 30.5 million NT, up 19.4% and 16.0% respectively, vs. 2016. Finished steel import market share was an estimated 27% in October and is estimated at 28% YTD.
Key finished steel products with significant import increases in October compared to September include wire rods (up 32%), cut lengths plates (up 27%), plates in coils (up 23%) and standard pipe (up 10%). Major products with significant YTD increases vs. the same period in 2016 include oil country goods (up 231%), line pipe (up 68%), standard pipe (up 44%), mechanical tubing (up 34%), cold rolled (up 26%), sheets and strip all other metallic coatings (up 25%), hot rolled bars (up 21%) and sheets and strip hot dipped galvanized (up 17%).
In October, the largest volumes of finished steel imports from offshore were from South Korea (372,000 NT, up 14% from September final), Germany (156,000 NT, up 2%), Taiwan (122,000 NT, up 2%), Turkey (112,000 NT, down 7%) and Brazil (89,000 NT, down 19%). For the first ten months of 2017, the largest offshore suppliers were South Korea (3,328,000 NT, up 2% vs. the same period in 2016), Turkey (2,065,000 NT, down 1%), Japan (1,307,000 NT, down 17%), Germany (1,160,000 NT, up 14%) and Taiwan (1,148,000 NT, up 35%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.
Source: American Iron and Steel Institute (AISI)