Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,708,000 net tons (NT) of steel in October 2021, including 2,325,000 NT of finished steel (down 16.7 percent and 6.0 percent, respectively, vs. September final data).
Through the first 10 months of 2021, total and finished steel imports are 26,530,000 and 19,012,000 NT, up 38.5 percent and 39.6 percent, respectively, vs. the same period in 2020. Annualized total and finished steel imports in 2021 would be 31.8 and 22.8 million NT, up 44.6 percent and 41.4 percent.
Finished steel import market share was an estimated 24 percent in October and is estimated at 21 percent over the first ten months of 2021.
Key finished steel products with a significant increase in imports in October compared to September are hot rolled sheets (up 13 percent) and sheets and strip hot dipped galvanized (up 12 percent). Products with a notable year-to-date increase vs. the same period in 2020 were hot rolled sheets (up 123 percent), plates in coils (up 95 percent), wire rods (up 62 percent), sheets and strip all other metallic coatings (up 59 percent), cut lengths plates (up 58 percent) and oil country goods (up 44 percent).
In October, the largest volumes of finished steel imports from offshore were from South Korea (203,000 NT, down 32 percent from September final), Turkey (149,000 NT, up 26 percent), Vietnam (110,000 NT, up 41 percent), Germany (83,000 NT, down 6 percent) and Japan (80,000 NT, down 3 percent). For the first ten months of 2021, the largest offshore suppliers were South Korea (2,298,000 NT, up 38 percent vs. the same period in 2020), Japan (830,000 NT, up 25 percent), Turkey (824,000 NT, up 66 percent) and Germany (731,000 NT, up 23 percent).
Published in the January 2022 Edition