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Steel Imports Decline 2% in October, AISI Reports
WASHINGTON -- The United States imported 2.54 million net tons of steel in October, preliminary figures show. This includes 2.06 million net tons of finished steel, down 2% and up 3%, respectively, from September final data.
Year-to-date finished steel imports are up 18% compared to the same period in 2011, according to the American Iron and Steel Institute. Annualized total and finished steel imports in 2012 would be 33.9 million and 26.3 million net tons, up 19% and 21%, each, respectively compared to. 2011. The finished steel import market share in October was an estimated 25% and is estimated at 24% year-to-date
Key finished steel products with a significant import increase in October compared to September are heavy structural shapes (up 56%), tin plate (up 40%), line pipe (up 39%), reinforcing bars (up 27%), hot rolled bars (up 16%) and sheets and strip galvanized hot dipped (up 12%). Major products with significant year-to-date import increases versus the same period last year are reinforcing bar (up 50%), line pipe (up 39%), sheets and strip galvanized hot dipped (up 36%) and oil country goods (up 29%).
In October, the largest volumes of finished steel imports from offshore were entirely from Asia and Europe. They were South Korea (372,000 net tons, up 16%), Japan (179,000, up 8%), China (117,000, up 14%), Germany (103,000, down 8%) and The Netherlands (71,000, up 85%). For the first 10 months of 2012, the largest offshore suppliers were South Korea (3.18 million net tons, up 30%), Japan (1.70 million, up 38%), China (1.31 million, up 23%), Turkey (1.19 million, up 89%) and Germany (1.04 million, up 29%).
The American Iron and Steel Institute is a trade group made up of 25 companies that include integrated and electric furnace steelmakers, and 125 associate members that supply or are customers of the steel industry.
Published by The Business Journal, Youngstown, Ohio.