U.S. Finished Steel Imports Collapsed in 2020

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported significant decline in imports of finished steel by the country during the previous year. This is based on the trade figures available for the full year 2020..

The country witnessed 23.3% decline in finished steel imports in the entire year 2020. As per figures, the full-year finished imports totalled 16.139 million net tons in 2020. The U.S. finished imports had totalled 21.051 million net tons in the whole of 2019. Meantime, the total steel imports recorded similar decline of 21.2% from 27.937 million net tons in 2019 to 22.019 million net tons during this year, AISI said.

The AISI posted modest to sharp decline in import volumes of majority of steel mill products during the year. The imports of line pipes registered the biggest decline, falling by nearly 61% from the previous year. The imports of oil country goods and plates in coils dropped by 53.2% and 30.6% respectively. The only product to witness increased import volumes was tin plate, whose import volumes edged higher marginally by 1.7% from 2019.

The imports of finished steel mill products from Turkey surged the most, climbing higher by 71.5% in 2020. On the contrary, finished imports from Japan witnessed huge contraction by 35% during the year. The imports from Taiwan and China too recorded notable decline over the previous year.

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