Steel Imports Take 23% Market Share in May
WASHINGTON -- Based on preliminary Census Bureau data, the United States imported 2,802,000 net tons of steel in May, the American Iron and Steel Institute reported Wednesday. This includes 2,123,000 net tons of finished steel (up 2% and down 1%, respectively, versus April final data).
Year-to-date total and finished steel imports are 13,236,000 and 10,359,000 net tons, respectively, down 11% and 9% compared to 2012.
Annualized total and finished steel imports in 2013 would be 31.8 million and 24.9 million net tons, down 5% and 4%, respectively, compared with 2012. Finished steel import market share was an estimated 23% in May and 23% year-to-date.
Key finished steel products with a significant import increase in May compared to April are reinforcing bar (up 269%), hot rolled bars (up 63%), wire rods (up 28%) and sheets and strip hot dipped galvanized (up 15%).
In May, the largest volumes of finished steel imports from offshore were entirely from Asia and Europe: South Korea (250,000 net tons, down 9%); China (184,000, up 66%), Turkey (171,000, up 158%), Japan (169,000, down 19%) and India (85,000, up 43%). For the first five months of 2013, the largest offshore suppliers were South Korea (1,488,000 net tons, down 6%), Japan (826,000, down 3%), China (743,000, up 22%), Turkey (640,000, down 22%) and Germany (450,000, down 13%).
AISI is composed of 24 companies that include integrated and electric-furnace steelmakers and 125 associate members who are suppliers to or customers of the steel industry.
Published by The Business Journal, Youngstown, Ohio.
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