STEEL IMPORTS HEADLINESSteel Imports
Steel Imports Down 18% in June
Jul. 30, 2009 The U.S. imported a total of 849,000 net tons of steel in June 2009, an 18% decrease vs. May 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 total June imports included 798,000 net tons of finished steel, reflecting a 22% decrease vs. May final data.
On an annualized basis, total steel imports are down 46% vs. 2008, while finished steel imports are down 38%. Annualizing total imports of steel would result in 17.2 million net tons for the full year 2009. Finished steel import market share was an estimated 17% in June, and year-to-date market share (through six months) is an estimated 27%.
Key products with increases in June 2009 compared to May include
- Heavy Structural Shapes (up 33%)
- Wire Rods (up 32%)
- Tin Plate (up 14%)
For YTD 2009 vs. the same period last year, OCTG imports (led by China) are up 6%.
In June, the largest volume of finished imports from offshore was from Japan (59,000 net tons, down 4%)., marking the first time in 14 months that China was not the largest offshore supplier of finished steel. Other major offshore suppliers in June included China (44,000 net tons, down 71%) and South Korea (40,000 net tons, down 66%).
Based on the first half of 2009, finished imports from China would annualize at 2.4 million net tons, some 50% less than in 2008, when finished imports from that country totaled 4.8 million net tons.
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. The Institute comprises 24 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.