US Preliminary Steel Imports Tumbled in February

By Paul Ploumis (ScrapMonster Author)

March 24, 2016 04:45:41 AM

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 2,212,000 net tons (NT) of steel in February 2016, including 2,079,000net tons (NT) of finished steel (down 16.5% and 6.7%, respectively, vs. January final data).

Year-to-date total and finished steel imports are 4,860,000 and 4,307,000 net tons (NT), respectively, down 40% and 34% respectively, vs. the same period in 2015. Finished steel import market share was estimated at 26% in February.

Key finished steel products with a significant import increase in February this year when compared to January are reinforcing bars (up 32%), tin plate (up 53%), structural pipe and tubing (up 12%), and sheets and strip all other metallic coatings (up 11%).

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In February, the largest volumes of finished steel imports from offshore were from South Korea (374,000 NT, up 55% from January Final), Turkey (207,000 NT, down 16%), Japan (114,000 NT, down 40%), Germany (80,000 NT, down 33%) and China (80,000 NT, down 12%).

For two months of 2016, the largest offshore suppliers were South Korea (615,000 NT, down 53%), Turkey (450,000 NT, down 23%), Japan (299,000 NT, down 34%), Germany (200,000 NT, down 32%) and China (172,000 NT, down 63%).

Courtesy: American Iron and Steel Institute