Jan. 7, 2015
Steel Imports Dip in November, But Still Way Up for the Year
The U.S. imported 3.6 million net tons of steel in November, down 18.2 percent from October, reports the American Iron and Steel Institute in Washington. Finished steel imports, at 2.9 million tons, were down 16.3 percent for the month.
For the year to date, imports of steel into the U.S. totaled 40.6 million tons, a 37 percent increase compared with 2013. Finished steel imports increased 34 percent to 30.7 million tons. Imports’ share of the finished steel market in the U.S. hit 29 percent in November.
Major products that saw increased imports in the first 11 months of 2014 included plates in coils, up 87 percent; cold-rolled sheet, up 85 percent; cut-length plates, up 75 percent; and strip hot-dipped galvanized, up 59 percent.
In November, the largest volumes of finished steel from offshore came from South Korea at 467,000 tons, down 15 percent compared with the previous month; China at 253,000 tons, down 31 percent; Turkey at 184,000 tons, down 47 percent; and Japan at 147,000 tons, down 38 percent. For the year to date, the largest offshore suppliers were South Korea at 5.0 million tons, up 47 percent; China at 2.9 million tons, up 69 percent; Turkey at 2.0 million tons, up 74 percent; and Japan at 1.9 million tons, up 10 percent.