Association News

Steel Imports Increase in October

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The U.S. imported 1.5 million tons of steel in October, including 1.2 million tons of finished steel, the American Iron and Steel Institute reported. Net tons were up 19.6 percent compared with September, while finished steel imports increased 6.6 percent compared with the prior month.

Through the first 10 months of 2020, total imports of 19.1 million tons were down 22.8 percent compared with 2019, while finished steel imports were down 15.9 percent. Finished steel import market share was an estimated 18 percent for both October and the year to date.

Key finished steel products with a significant increase in imports in October compared to September are OCTG, up 105.9 percent; rebar, up 95.4 percent; cold-rolled sheets, up 41.2 percent; and heavy structural shapes, up 37.1 percent.

The largest volumes of finished steel imports in October were from South Korea at 146,000 tons, up 17 percent compared with September; followed by Japan at 78,000 tons, up 32 percent; Turkey at 68,000 tons, up 943 percent; and Germany at 67,000 tons, up 31 percent. For the year to date, South Korea was the largest importer at 1.7 million tons of steel, down 25 percent; Japan was at 665,000 tons, down 39 percent; Germany at 592,000 tons, down 35 percent; Turkey at 496,000 tons, up 75 percent.