WASHINGTON -- The United States imported a total of 2,689,000 net tons of steel in February, including 2,051,000 net tons of finished steel in February, preliminary Census Bureau figures show. That's down 5% and 7%, respectively, from January's final data.
Annualized total and finished steel imports in 2011 would be 33 million net tons and 25.5 million net tons, respectively, up 16% and 17% over 2011, according to a report from the American Iron and Steel Institute. Finished steel import market share in February was an estimated 23%. Import market share through two months of this year is 23%, up from the 22% for full year 2012.
Key finished steel products with significant import increases in February 2012 compared to January are wire rods (up 77%), sheets and strip galvanized hot dipped (up 39%), plates in coils (up 15%) and hot rolled bars (up 11%).
Major products with significant year-to-date import increases compared to the same period last year include plates in coils (up 85%), reinforcing bar (up 79%), sheet and strip all other metallic coated (up 81%), heavy structural shapes (up 65%) and sheet and strip galvanized hot dipped (up 65%
In February, the largest volumes of finished steel imports from offshore were from South Korea (298,000 net tons, down 15%), Japan (162,000, up 11%), Turkey (160,000, down 5%), India (109,000, up 182%) and China (87,000, down 15%). For the first two months of 2012, the largest offshore suppliers were South Korea (648,000 net tons, up 62%), Turkey (328,000, up 211%) and Japan (308,000, up 19%).
Published by The Business Journal, Youngstown, Ohio.