The U.S. imported a total of 2,921,000 net tons of steel in September 2008, a 15% increase vs. August final data according to the latest report from the American Iron and Steel Institute (AISI).
The report, which is based on preliminary Census Bureau data, shows that the total included 2,428,000 net tons of finished steel, up 18% vs. August final data.
While total and finished steel imports through the first nine months of 2008 are down 7% and 8%, respectively, vs. the same period in 2007, the monthly average for finished steel imports in the most recent 3-month period (July to September 2008) is up 5% vs. the monthly average in the previous 3 months (April to June, 2008). On an annualized basis, total and finished steel imports are each down 3% vs. 2007, with total annualized imports of steel projected to reach 32.4 million net tons in 2008.
Key products with a large increase in September compared to the prior month include:
· All Other Coated Sheet and Strip, + 73%
· Plates in Coils, + 51%
· Line Pipe, + 48%
· Oil Country Goods, + 46%
· Hot Dipped Galvanized Sheet and Strip, + 34%
Products with significant increases for the year-to-date vs. the same period in 2007 include Oil Country Goods (+ 58%), Line Pipe (+ 12%), Hot Rolled Sheet (+ 9%), and Hot Rolled Bars (+ 8%).
In September, the largest volume of finished imports from offshore was from China (567,000 net tons, up 15% from August). This amount represents 23% of all finished imports and is equal to the entire monthly tonnage from Canada and Mexico. While steel imports from China in the first nine months of 2008 are down 21% compared to the same period last year, Chinese imports for the most recent 3-month period (July to September) are up 69% vs. the prior 3 months (April to June). Much of this tonnage is in high-value products still receiving government export tax rebates.
Other major offshore suppliers in September include Korea (246,000 net tons, up 46% from August), India (157,000 net tons, up 193%), Japan (121,000 net tons, down 30%), Turkey (107,000 net tons, up 730%), and Germany (92,000 net tons, up 25%).
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI comprises 27 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.