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Steel Imports Decline in August

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The U.S. imported 2 million tons of steel in August, a 34 percent decline compared with July, reports the American Iron and Steel Institute, Washington. Finished steel imports declined 3.4 percent to 1.8 million tons.

Through the first eight months of 2019, total imports of 20.7 million tons were down 13.6 percent compared with 2018, while finished steel imports were down 15.9 percent to 15.3 million tons.  Finished steel import market share was an estimated 19 percent in August and is estimated at 20 percent over the first eight months of 2019.

The only finished steel product to show a significant import increase in August compared with July was hot-rolled sheets, which were up 10 percent.

In August the largest volumes of finished steel imports from offshore were from South Korea at 263,000 tons, up 46 percent compared with July; followed by Japan at 134,000 tons, up 54 percent; Germany at 75,000 tons, down 1 percent; Taiwan at 61,000 tons, down 28 percent; and Spain at 56,000 tons, up 47 percent.

For the first eight months, the largest offshore suppliers were South Korea at 1.9 million tons, down 10 percent; Japan at 944,000 tons, down 3 percent; Germany at 767,000 tons, down 12 percent; Taiwan at 668,000 tons, down 10 percent; and Vietnam at 543,000 tons, down 22 percent.

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