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Steel News May 28, 2019 10:30:41 AM

Finished Steel Imports Likely to Witness 5.8% Decline in 2019

Paul Ploumis
ScrapMonster Author
The imports of Ingots and Billets and Slabs are forecast to report biggest surge in import volumes during the current year.
Finished Steel Imports Likely to Witness 5.8% Decline in 2019

SEATTLE (Scrap Monster): The latest forecast provided by the American Iron and Steel Institute (AISI) suggests notable decline in finished steel imports by the country during the current year. Based on import trends for the first four months of the year, AISI predicts nearly 6% decline in yearly imports in 2019, when compared with 2018.

According to AISI, the U.S. finished steel imports are likely to total 24.201 million net tons in 2019, lower by 5.8% when matched with the imports of 25.694 million NT during the previous year. Meantime, the total steel imports by the country is likely to witness 2.2% growth from 33.731 million NT in 2018 to 34.467 million NT in 2019.

The imports of Ingots and Billets and Slabs are forecast to report biggest surge in import volumes during the current year. The imports of these are likely to surge higher by 28% year-on-year. The other products that are likely to witness notable jump in imports are line pipes and cut length plates, whose annualized imports are likely to surge higher by 24.1% and 10.6% respectively.

On the other hand, imports of several product categories are likely to decline. Hot rolled sheet imports are forecast to decline by 24.8% year-on-year. The imports of hot rolled bars and all other met. coated sheets and strip are likely to drop by 23.7% and 22.9% respectively, when compared with 2018.

The imports of finished steel mill products from Brazil are likely to surge higher by nearly 62%. Notable jump in import volumes are expected from Italy and South Korea too. Meantime, imports from Vietnam are likely to drop by 17%, AISI said.