US preliminary Steel imports rise 7% in May

UNITED STATES June 26 2014 4:15 PM
WASHINGTON, D.C (Scrap Register): Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 4,016 ,000 net tons (NT) of st eel in May , including 2, 925 ,000 net tons ( N T ) of finished steel ( up 7.4 % a nd 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 fini shed 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 product s 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 w ith significant YTD import increases vs. the same period la st year include wire rods (up 96%), plates in coils (up 76%), cold rolled sheets (up 56%), sheets and strip al l other metallic coatings (up 47 %), sheets and strip galvanized hot dipped (up 40 %), h ot r olled 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 volume s of finished steel impor ts from offshore were from South Korea ( 584 , 00 0 NT , up 45 % v s. April final ), China ( 303 ,000 NT, down 27 %), Turkey (149,000 NT, up 5%), Japan ( 145 ,000 NT, down 31 %) and Taiwan ( 106 ,000 NT , up 19 %) . For five months of 20 14 , the largest offshore suppliers we re South Korea ( 2 , 152 ,000 N T, 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 %). Below are charts on estimated steel import market share in recent month s and on finished steel imports from offshore by country.