Metal Price
Scrap Monster
Steel News March 02, 2021 06:30:18 PM

AISI Foresees 8% Dip in 2021 Finished Steel Imports

Paul Ploumis
ScrapMonster Author
The country is likely to witness 7.9% decline in finished steel imports in the entire year 2021.
AISI Foresees 8% Dip in 2021 Finished Steel Imports

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) forecasts significant decline in imports of finished steel by the country during the current year. The estimates provided by the association are based on the import trends during the initial one-month period of the year.

The country is likely to witness 7.9% decline in finished steel imports in the entire year 2021. As per estimates, the full-year finished imports are likely to total 14.871 million net tons in 2021. The U.S. finished imports had totalled 16.139 million net tons in the whole of 2020. Meantime, the total steel imports are likely to witness a surge of 32.0% from 22.019 million net tons in 2020 to 29.065 million net tons during this year, AISI said.

ALSO READ:

AISI: U.S. Steel Imports Slumped 23%

U.S. Raw Steel Output Recorded Substantial Dip

The AISI foresees modest to sharp decline in import volumes of a large number of steel mill products during the year. The imports of tin plates are likely to register the biggest decline, falling by over 58% from the previous year. The imports of line pipes and cold rolled sheets are likely to drop by 37.8% and 34.1% respectively. On the other hand, the imports of Ingots and Billets and Slabs are expected to surge higher significantly by 142% year-on-year in 2021.

The imports of finished steel mill products from Turkey are likely to surge higher by 74.1% in 2021. On the contrary, AISI forecasts nearly 28% contraction in finished imports from Japan during the year.