AISI Recorded 11% Slump in U.S. Steel Imports

SEATTLE (Scrap Monster): The preliminary data published by the U.S. Census Bureau points to notable decline in steel imports by the country during the initial seven months of the current year. This is when compared with the corresponding seven-month period in 2018, said the American Iron and Steel Institute (AISI).

The steel imports totaled 18.666 million net tons (NT) from January to July this year. This is significantly lower by 10.6%, upon comparison with the imports which totaled 20.873 million NT during the similar seven-month period in 2018. Finished steel imports totaled 13.536 million NT, registering 16.4% year-on-year drop. The U.S. finished steel imports had totaled 16.198 million NT in Jan-July ’18.

The monthly total and finished steel imports by the country in July 2019 totaled 3.028 million NT and 1.843 million NT respectively. The total and finished steel imports during the month surged higher by 48.3% and 6.6% respectively, over July 2018.

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The finished steel products that recorded substantial increase in import volumes in July ’19, as compared with the prior month were Ingots and Billets and Slabs, Cut Length Plates and Line Pipes. The imports of Ingots and Billets and Slabs skyrocketed by nearly 280% over the year, said AISI news release.

Also, the largest volumes of finished steel imports in July ’19 from offshore were from South Korea, followed by Japan, Taiwan, Brazil and Germany.

As per U.S. Census Bureau data, the annualized total and finished steel imports are projected to total 31.999 million NT and 23.204 million NT respectively.