AISI Foresees 11% Dip in Finished Steel Imports

SEATTLE (Scrap Monster): The latest report published by the American Iron and Steel Institute (AISI) forecasts notable decline in finished steel imports by the country during the current year. Based on the import trend for the initial eight-month period of the year, AISI predicts a year-on-year decline of approximately 11% decline in the full year 2019. It must be noted that the Aug '19 steel imports by the country had plunged sharply by almost 34%.

The U.S. finished steel imports are likely to total 22.982 million net tons in 2019, lower by 10.6% when compared with the imports of 25.694 million NT in 2018. Also, the total steel imports by the country are likely to witness a decline of over 8% from 33.731 million NT in 2018 to 31.002 million NT in 2019.

The steel mill product likely to see biggest surge in import volumes during the current year is Reinforcing bar. The imports of the above are likely to surge higher by 10.1% year-on-year. The other products that are likely to witness notable jump in imports are Heavy Structural Shapes and Tin Plates, whose yearly imports are likely to soar by 9.7% and 9.1% respectively.

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On the other hand, imports of several product categories are likely to witness sharp decline during the year. AISI predicts huge decline of over 27% in imports of hot rolled sheets in 2019. The year-on-year imports of hot rolled bars and plates in coils are likely to drop by 23% and 21.6% respectively.

The imports of finished steel mill products from Spain and Brazil are likely to surge higher by 63% and 29% respectively. The imports from South Korea and Japan are likely to remain higher, whereas those from Germany, Taiwan, Vietnam and China are likely to remain lower.