The U.S. imported a total of 1,560,000 net tons of steel in October 2009, a 29% increase compared to September final data, according to the latest report from the American Iron and Steel Institute (AISI). This was the highest monthly total import figure since February.
The report, which is based on preliminary Census Bureau data, shows that the October total included 1,177,000 net tons of finished steel, a 15% increase vs. September final data.
On an annualized basis, total steel imports are down 50% vs. 2008, while finished steel imports are down 45%. Total imports would annualize at 16.0 million net tons, and finished steel imports would annualize at 14.4 million net tons. Finished steel import market share was an estimated 18% in October and is an estimated 22% year-to-date (YTD) through ten months.
Key finished steel products with increases in October 2009 compared to September include:
· Reinforcing bars, +105%
· Wire rods, +55%
· Hot rolled bars, +42%
· Line pipe, +35%
· Oil country goods, +29%
In October, the largest volumes of finished steel imports from offshore were from South Korea (102,000 net tons, up 59%), Japan (91,000 net tons, up 76%), Turkey (69,000 net tons, up 509%), The Netherlands (63,000 net tons, up 170%) and India (52,000 net tons, up 32%).
Based on the first 10 months of 2009, finished steel imports from China would annualize at 1.6 million net tons, 66% less than in 2008 but more than any other offshore supplier.
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.