Finished Steel Imports to Dip by 9% in 2019

SEATTLE (Scrap Monster): The latest forecast provided by the American Iron and Steel Institute (AISI) suggests notable decline in finished steel imports by the country during the current year. Based on import trends for the initial six-month period of the year, AISI predicts more than 9% decline in yearly imports in 2019, upon comparison with the prior year.

According to AISI, the U.S. finished steel imports are likely to total 23.351 million net tons in 2019, lower by 9.1% when matched with the imports of 25.694 million NT during the previous year. Meantime, the total steel imports by the country are likely to drop by 7.4% from 33.731 million NT in 2018 to 31.240 million NT in 2019.

The imports of Reinforcing Bars are forecast to report biggest surge in import volumes during the current year. The imports are likely to surge higher by 14.8 year-on-year. The other products that are likely to witness notable jump in imports are heavy structural shapes and tin plates, whose annualized imports are likely to surge higher by 6.8% and 6.7% respectively.

On the other hand, imports of several product categories are likely to decline. Hot rolled sheet imports are forecast to decline the most, falling by 28.7% over the previous year. The imports of plates in coils and standard pipes are likely to drop by 19.6% and 19.2% respectively, upon comparison with 2018.

The imports of finished steel mill products from Brazil are likely to surge higher by over 32%. Notable jump in import volumes are expected from South Korea, Japan and Italy too. Meantime, imports from Vietnam are likely to drop by 23% from the previous year, AISI said.