Author: Paul Ploumis25 Jun 2014 Last updated at 02:25:43 GMT

SEATTLE (Scrap Monster): Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 4,016,000 net tons (NT) of steel in May, including 2,925,000 net tons (NT) of finished steel (up 7.4% and 6.4%, respectively, vs. April final data). Year-to-date (YTD) total and finished steel imports are 17,480,000 and 12,829,000 net tons (NT), respectively, up 32% and 23% respectively, vs. 2013.Annualized total and finished steel imports in 2014 would be 42.0 and 30.8 million NT, up 31% and 24% respectively vs. 2013.Finished steel import market share was an estimated 28% in May and is estimated at 27% YTD.

Key finished steel products with a significant import increase in May compared to April are oil country goods(up 55%), heavy structural shapes (up 44%), tin plate (up 39%), standard pipe (up 22%), line pipe (up 22%), hot rolled sheets (up 21%) and sheets and strip galvanized hot dipped (up 21%).Major products with significant YTD import increases vs. the same period last year include wire rods (up 96%), plates in coils (up 76%), cold rolled sheets (up 56%),sheets and strip all other metallic coatings (up 47%), sheets and strip galvanized hot dipped(up 40%), hot rolled sheets (39%), mechanical tubing(35%), oil country goods (up 26%), reinforcing bars (up 24%),cut lengths plates (up 24%) and heavy structural shapes up 20%).

In May,the largest volumes of finished steel imports from offshore were from South Korea(584,000 NT, up 45% vs. April final), China(303,000 NT, down 27%), Turkey (149,000 NT, up 5%), Japan(145,000 NT, down 31%) and Taiwan(106,000NT, up 19%).For five months of 2014, the largest offshore suppliers were South Korea (2,152,000 NT, up 42%), China(1,286,000 NT, up 73%), Japan(852,000 NT, up 3%), Turkey (760,000 NT, up 19%) and Russia(501,000 NT, up 324%).