SEATTLE (Scrap Monster): The total steel imports stood at 20.564 million net tons during the initial eight months of the current year, as per the most recent Steel Import Monitoring and Analysis (SIMA) data published by the U.S. Commerce Department. This is significantly higher by 25.5% when compared with the imports during the corresponding period in 2020. The finished steel imports too were up by 26.9% over the previous year to total 14.209 million net tons through August this year.
The finished steel product that reported highest surge in import volumes was hot rolled sheets, whose imports during Jan-Aug ’21 recorded nearly 94% year-on-year surge. The imports of plates in coils and sheets and strip all other metallic coatings too were up by 67% and 50% respectively. The other products with large increases in imports were wire rods and cut lengths plates, whose imports surged higher by 46% and 45% respectively, said the American Iron and Steel Institute (AISI).
Through the initial eight-month period in 2021, South Korea was the largest offshore supplier of steel to the U.S. The supplies from that country were up by 26% from the same period last year to total 1.793 million net tons. The second largest supplier was Japan, with supplies totalling 667,000 net tons, followed by Germany with 560,000 net tons.