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US Finished Steel Imports in August Shrink by 52% MoM

Steel News - Published on Tue, 29 Sep 2020

Image Source: US Steel Imports
Based on preliminary Census Bureau data, the American Iron and Steel Institute reported today that the US imported a total of 1,300,000 net tons of steel in August 2020, including 1,188,000 net tons of finished steel (down 51.9% and 13.9%, respectively, vs. July final data). Through the first eight months of 2020, total and finished steel imports are 16,400,000 and 11,211,000 net tons, down 20.7% and 26.9%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 24.6 and 16.8 million NT, down 11.9% and 20.1%, respectively, vs. 2019. Finished steel import market share was an estimated 17% in August and is estimated at 19% over the first eight months of 2020.

In August the largest volumes of finished steel imports from offshore were from South Korea (112,000 NT, down 29% from July final), Japan (55,000 NT, up 9%), Germany (50,000 NT, up 8%), Turkey (46,000 NT, down 11%) and The Netherlands (36,000 NT, down 14%). For the first eight months of 2020, the largest offshore suppliers were South Korea (1,394,000 NT, down 26% vs. the same period in 2019), Japan (539,000 NT, down 43%), Germany (473,000 NT, down 38%), Turkey (420,000 NT, up 89%) and Taiwan (404,000 NT, down 40%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.

Steel Mill ProductAug'20 PJul'20 FMoMJan-Aug'20Jan-Aug'19YoY
Ingots arid Billets and Slabs111.0741,322,171-91.6%5.178.3605.346.723-3.1%
Sheets & Strip Gah'. 1 lot Dipped173.445228,766-24.2%1.485.2891.700,039-12.6%
Sheets 1 lot Rolled107,293123,241-12.9%1.055.5971.260,136-162%
Sheets Cold Rolled103,42599,4544.0%930.1361.182,032-21.3%
Oil Country Goods45,44868,970-34.1%890.6991.838.047-51.5%
Bars - Reinforcing98,495125.199-21.3%830.889857,344-3.1%
Plates in Coils48,08260,340-20.3%542.511818,671-33.7%
Line Pipe58,73855,5805.7%522.0831.482.041-64.8%
Tin Plate63,22486,832-27.2%485.528559,474-132%
Wire Rods42,44542,929-1.1%469.655724,557-352%
Sheets & Strip All Other Metalic57,32755,8402.7%464.267512.140-9.3%
Bars - 1 lot Rolled44.33846,896-5.5%454.197628,747-27.8%
Standard Pipe57.44158.994-2.6%449.260487,214-7.8%
Wire Drawn53,01553,967-1.8%434.835494.406-12.0%
Mechanical Tubing35,30536.364-2.9%363.989393.466-7.5%
Structural Shapes I ieavy16.37038.659-57.7%295.305417,986-29.4%
Structural Pipe & Tubing34,32631,3079.6%262.598283.865-7.5%
All Other150,350167.342-10.2%1.285.2831.703,960-24.6%
TOTAL1,300,1392,702,852-51.9%16.400.48120,690,848-20.7%
SUBTOTAL Finished Imports1,187,9841,379,949-13.9%11,210,50815,332,431-26.9%
 

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Posted By : Yogender Pancholi on Tue, 29 Sep 2020
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