Oct. 1, 2014
Steel Imports Down in August
The U.S. imported nearly 3.7 million net tons of steel in August, a decline of 5 percent versus the previous month, according to preliminary Census Bureau data. August imports included 2.8 million tons of finished steel, down 10 percent from July.
Year to date, U.S. steel imports totaled 28.6 million tons, an increase of 36 percent, including finished steel imports of 21.4 million tons, an increase of 29 percent, versus the same eight months in 2013. Finished steel import market share was estimated at 27 percent.
Key finished steel products that saw a significant increase in imports in August, compared to July, include: reinforcing bars, up 191 percent; and wire rods, up 22 percent. Major products with significant year-to-date import increases include: plates in coils, up 85 percent; wire rods, up 78 percent; cold-rolled sheets, up 73 percent; cut length plates, up 58 percent; sheets and strip hot-dipped galvanized, up 56 percent; sheets and strip all other metallic coatings, up 52 percent; heavy structural shapes, up 44 percent; hot-rolled sheets, up 37 percent; mechanical tubing, up 36 percent; oil country goods, up 26 percent; tin plate, up 21 percent; and reinforcing bar, up 14 percent.
In August, the largest volumes of finished steel imports from offshore were from: South Korea at 450,000 net tons, down 21 percent from July; China at 226,000 net tons, down 16 percent; Turkey at 210,000 tons, up 59 percent; Japan at 165,000 tons, down 18 percent; and Taiwan at 130,000 tons, up 23 percent.
For eight months of 2014, the largest offshore suppliers were: South Korea at 3.6 million net tons, up 49 percent; China at 2.0 million tons, up 70 percent; Japan at 1.4 million tons, up 5 percent; Turkey at 1.3 million tons, up 47 percent; and Russia at 903,000 tons, up 511 percent.