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Steel Imports Decline in February

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The U.S. imported 1.5 million tons of steel in February, including 1.3 million tons of finished steel, the American Iron and Steel Institute reported. Net tons were down 52.2 percent from January, while finished steel tons declined 18.4 percent.

Through the first two months of 2020, total imports of 4.7 million tons were down 21.3 percent and finished steel tons of 3 million tons were down 28.7 percent compared with the same period in 2019.

Finished steel import market share was an estimated 15 percent in February and is estimated at 16 percent over the first two months of 2020.

Key finished steel products with a significant import increase in February compared to January were heavy structural shapes, up 57 percent, and tin plate, up 15 percent. Mechanical tubing imports are up 12 percent for the year to date.

In February the largest volumes of finished steel imports from offshore were from South Korea at 158,000 tons, down 13 percent from January; followed by Turkey at 73,000 tons, up 44 percent; Japan at 69,000 tons, down 9 percent and Germany at 52,000 tons, up 7 percent. For the first two months of 2020, the largest offshore suppliers were South Korea at 340,000 tons, down 38 percent; Japan at 146,000 tons, down 37 percent; Brazil at 126,000 tons, down 16 percent; and Turkey at 124,000 tons, up 23 percent.

 

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