Source: Chesterton Tribune
Based on preliminary Census Bureau data, the American Iron and Steel Institute is reporting that the U.S. imported a total of 3,349,000 net tons (NT) of steel in August, down 4.8 percent from July.
That figure included 2,422,000 NT of finished steel, down 16.8 percent from July.
In the year-to-date, total steel imports were up by 20.6 percent over the year-ago and finished steel imports up 15.5 percent.
Annualized total steel imports in 2017 would be 39.8 million NT, up 20.7 percent over 2016; finished steel imports, would be 30.6 million NT, up 16.2 percent.
Finished steel import market share was an estimated 26 percent in August and 28 percent in the year-to-date.
Key finished steel products with significant month-over-month import increases in August include wire drawn (up 8 percent).
Major products with significant year-over-year increases include oil country goods (up 250 percent); standard pipe (up 47 percent); line pipe (up 42 percent); sheets and strip all other metallic coatings (up 33 percent); mechanical tubing (up 32 percent); cold rolled sheets (up 31 percent),; sheets and strip hot dipped galvanized (up 25 percent); and hot rolled bars (up 19 percent).
In August, the largest volumes of finished steel imports from offshore were from South Korea (351,000 NT, up 3 percent from July); Japan (128,000 NT, down 7 percent); Taiwan (121,000 NT, up 1 percent); Turkey (101,000 NT, down 61 percent); and Germany (99,000 NT, down 33 percent).
For the first eight months of 2017, the largest offshore suppliers were South Korea (2,620,000 NT, down 3 percent from the year-ago); Turkey (1,827,000 NT, up 8 percent); Japan (1,065,000 NT, down 17 percent); Taiwan (906,000 NT, up 39 percent); and Germany (849,000 NT, up 2 percent).