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US Steel Imports in Jan-Feb down by 21% YoY

Steel News - Published on Thu, 26 Mar 2020

Image Source: COVID-19 Steel Import
Based on preliminary Census Bureau data, the American Iron and Steel Institute reported today that the U.S. imported a total of 1,505,000 net tons of steel in February 2020, including 1,344,000 net tons of finished steel (down 52.2% and 18.4%, respectively, vs. January final data). Through the first two months of 2020, total and finished steel imports are 4,655,000 and 2,992,000 net tons, down 21.3% and 28.7%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 27.9 and 18.0 million NT, unchanged and down 14.7%, respectively, vs. 2019. Finished steel import market share was an estimated 15% in February and is estimated at 16% over the first two months of 2020.

Key finished steel products with a significant import increase in February compared to January are heavy structural shapes (up 57%) and tin plate (up 15%). A product with a significant year-to-date increase vs. the same period in 2019 was mechanical tubing (up 12%).

In February the largest volumes of finished steel imports from offshore were from South Korea (158,000 net tons, down 13% from January final), Turkey (73,000 net tons, up 44%), Japan (69,000 net tons, down 9%), Germany (52,000 net tons, up 7%) and Brazil (37,000 net tons, down 58%). For the first two months of 2020, the largest offshore suppliers were South Korea (340,000 net tons, down 38% vs. the same period in 2019), Japan (146,000 net tons, down 37%), Brazil (126,000 net tons, down 16%), Turkey (124,000 net tons, up 23%) and Germany (100,000 net tons, down 54%).

Steel Mill ProductFeb'20 PJan'20 FMoMYTD 2020YTD 2019YoY
Sheets & Strip Galv Hot Dipped190,767247,054-22.8%437,821469,515-6.8%
Ingots and Billets and Slabs158,8541,500,368-89.4%1,659,2221,715,429-3.3%
Sheets Hot Rolled156,381173,623-9.9%330,005353233-6.6%
Sheets Cold Rolled97,115142,403-31.8%239,518307,725-22.2%
Bars - Reinforcing94,712106,623-11.2%201,335234,853-14.3%
Oil Country Goods85,069128,160-33.6%213229527,633-59.6%
Plates in Coils8420085,476-1.5%169,676219,888-22.8%
Structural Shapes Heavy64,09940,76457.2%104,86397,0788.0%
Bars - Hot Rolled5728765,423-12.4%122,710157,881-22.3%
Sheets & Strip /Ml Other Meta lie56,32570,591-20.2%126,916130,881-3.0%
Wire Rods54,62273,024-25.2%127,646198,080-35.6%
Mechanical Tubing53,41164,446-17.1%117,857104,89012.4%
Wire Drawn50,13960,705-17.4%110,845124,072-10.7%
Tin Plate48,43841,96215.4%90,400119,009-24.0%
Standard Pipe48,00259,925-19.9%107,927125,697-14.1%
Line Pipe43,51671,849-39.4%115,365541,442-78.7%
Plates Cut Lengths30,19031,043-2.7%61233133,099-54.0%
All Other131,511186,987-29.7%318,498352,545-9.7%
SUBTOTAL Finished Imports1,344,1641,648,188-18.4%2,992,3524,195,278-28.7%

Source :

Posted By : Yogender Pancholi on Thu, 26 Mar 2020
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