US Preliminary Steel imports increased 13% in October

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 4,398,000 net tons (NT) of steel in October, including 3,396,000 net tons (NT) of finished steel (up 12.8% and 14.9%, respectively, vs. September final data). Year-to-date (YTD) total and finished steel imports are 36,963,000 and 27,812,000 net tons (NT), respectively, up 37% and 32% respectively, vs. 2013.Annualized total and finished steel imports in 2014 would be 44.4 and 33.4 million NT, up 38% and 34% respectively vs. 2013.Finished steel import market share was an estimated 31% in October and is estimated at 28% YTD.

Key finished steel products with a significant import increase in October compared to September are heavy structural shapes (up 48%), plates in coils (up 37%), tin plate (up 30%), sheets and strip all other metallic coatings (up 30%), line pipe (up 27%), reinforcing bars (up 25%), hot rolled sheets (up 23%) and hot rolled bars (up 17%).Major products with significant YTD import increases vs. the same period last year include wire rods (up 87%), plates in coils(up 86%), cold rolled sheets (up 84%), cut lengths plates (up 70%), sheets and strip hot dipped galvanized (up 57%), heavy structural shapes (up 53%),hot rolled sheets (up 43%), sheets and strip all other metallic coatings (up 42%), mechanical tubing (up 31%), tin plate (up 26%), oil country goods (up 20%) and reinforcing bars (up 14%).

In October,the largest volumes of finished steel imports from offshore were from South Korea (550,000 NT, up 43% vs. September final), China(368,000NT,up 12%),Turkey (327,000 NT, up 88%) , Japan(237,000 NT, up 36%) and Russia(119,000NT, down 33%).For 10months of 2014, the largest offshore suppliers were South Korea (4,563,000 NT, up 44%), China (2,710,000 NT, up 70%), Turkey (1,807,000 NT, up 67%), Japan (1,768,000 NT, up 10%) and Russia (1,200,000 NT, up 518%).

Courtesy: American Iron and Steel Institute