AISI: Steel Imports Recorded Notable Dip in August

SEATTLE (Scrap Monster): The total steel imports stood at 2.510 million net tons during the month of August this year, as per the most recent statistics published by the U.S. Census Bureau. This is significantly down by 6.2% when compared with the imports during the prior month. The finished steel imports too registered decline by 8.4% month-on-month to total 2.084 million net tons. Year-to-date, the total and finished steel imports surged higher by 8.8% and 28.7% respectively.

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The finished steel product that reported highest surge in import volumes was heavy structural shapes, whose imports during August this year recorded nearly 31% surge over the prior month. The imports of hot dipped galvanized sheets and strips and tin plates too were up by 29% and 21% respectively. The largest suppliers during the month were Canada, Mexico, South Korea, Brazil and Vietnam.

Over the 12-month period from September 2021 to August 2022, the total and finished steel imports were up by 28.8% and 42.3% respectively. The finished steel import market share was estimated at 23% in August and 24% over the initial eight-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from August 2021 to July 2022 compared to the previous 12-month period included oil country goods and wire rods, whose imports skyrocketed by 105% and 82% respectively.