U.S. Steel Imports Forecast to Rise Significantly: AISI

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) forecasts notable jump in imports of finished steel by the country during the current year. The estimates provided by the association are based on the import trends during the first eleven months of the current year.

The country is likely to witness 46.2% surge in finished steel imports in the entire year 2021. As per estimates, the full-year finished imports are likely to total 23.592 million net tons in 2021. The U.S. finished imports had totalled 16.139 million net tons in the whole of 2020. Meantime, the total steel imports are likely to witness a surge of over 47% from 22.019 million net tons in 2020 to 32.379 million net tons during this year.

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The imports of hot rolled sheets are likely to register the biggest year-on-year surge, rising significantly by 132.9% from the previous year. The imports of plates in coils too are likely to surge higher by 101.6%. The only product to witness dip in imports is standard pipes, whose imports are expected to register marginal decline by 1.5% over the previous year, AISI data said.

The imports of finished steel mill products from Vietnam are likely to surge the most, rising by 169.2%. On the other hand, AISI forecasts over 15.2% dip in finished imports from Brazil during the current year.