Steel Imports Take 27% of Domestic Market in June

WASHINGTON -- Based on preliminary Census Bureau data, the United States imported 3.586 million net tons of steel in June, the American Iron and Steel Institute reports. The figure includes 2.706 million net tons of finished steel.

These figures are down 11.1% and 8%, respectively, compared to final data for May.

Year-to-date total and finished steel imports are 21.082 million and 15.552 million net tons, respectively, up 34% and 26% respectively, versus the first half of 2013. Annualized total and finished steel imports in 2014 would be 42.2 million and 31.1 million net tons, up 31% and 25% respectively. Finished steel import market share was an estimated 27% in June and is estimated at 27% year-to-date.

Key finished steel products with a significant import increase in June compared to May are cold rolled sheets (up 26%), cut lengths plates (up 26%) and tin plate (up 14%). Major products with significant year-to-date import increases versus the same period last year are wire rods (up 100%), plates in coils (up 69%), cold rolled sheets (up 67%), sheets and strip galvanized hot dipped (up 51%), sheets and strip all other metallic coatings (up 48%), hot rolled sheets (42%), cut lengths plates (up 37%), mechanical tubing (34%), oil country goods (up 28%), heavy structural shapes (up 25%), reinforcing bars (up 15%) and tin plate (up 15%).

In June, the largest volumes of finished steel imports came entirely from Asia and Europe: South Korea (457,000 net tons, down 22% versus May final), China (230,000 net tons, down 25%), Turkey (189,000 net tons, up 25%), Japan (138,000 net tons, down 5%) and Germany (102,000 net tons, down 3%).

The American Iron and Steel Institute is composed of 22 companies, including integrated and electric furnace  steelmakers, and another 125 associate members that are suppliers to or customers of the steel industry.

Copyright 2014 The Business Journal, Youngstown, Ohio.
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