SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) forecasts notable jump 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 ten-month period of 2021.
The country is likely to witness 41.4% surge in finished steel imports in the entire year 2021. As per estimates, the full-year finished imports are likely to total 22.814 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 44.6% from 22.019 million net tons in 2020 to 31.836 million net tons during this year, AISI said.
The AISI foresees modest to sharp increase in import volumes of a large number of steel mill products during the year. The imports of hot rolled sheets are likely to register the biggest year-on-year surge, rising significantly by 121.0% from the previous year. The imports of plates in coils and cut length plates are likely to increase by 91.8% and 62.5% respectively. On the contrary, the imports of standard pipes are expected to decline marginally by 2.0% year-on-year in 2021.
The imports of finished steel mill products from Vietnam are likely to surge higher by 127.4% in 2021. The Chinese finished steel imports may witness 13.6% surge during the current year.
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