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US Steel Imports in January-October 2019 down by 16% YoY

Steel News - Published on Mon, 02 Dec 2019

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Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,177,000 net tons of steel in October 2019, including l,479,000 net tons of finished steel (up 14.5% and down3.5%, respectively, vs. September final data). Through the first ten months of 2019, total and finished steel imports are 24,770,000 and 18,343,000 net tons, down 15.9% and 17.0%, respectively, vs. the same period in 2018. Annualized total and finished steel imports in 2019 would be 29.7and 22.0million NT, down 11.9% and 14.3%, respectively, vs. 2018. Finished steel import market share was an estimated 17% in October and is estimated at 20% over the first ten months of 2019.

Key finished steel products with a significant import increase in October compared to September were wire rods (up 24%), plates in coils (up 13%), sheets and strip hot dipped galvanized (up 13%), mechanical tubing (up 13%) and heavy structural shapes (up 12%).

In October the largest volumes of finished steel imports from offshore were from South Korea (170,000 NT, up 8% from September final), Germany (79,000 NT, up 22%), Japan (74,000 NT, up 4%), Brazil (59,000 NT, up 54%) and Taiwan (39,000 NT, down 37%). For the first ten months of 2019, the largest offshore suppliers were South Korea (2,219,000 NT, down 11% vs. the same period in 2018), Japan (1,090,000 NT, down 7%), Germany (910,000 NT, down 17%), Taiwan (768,000 NT, down 16%) and Vietnam (622,000 NT, down 30%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.

Steel Mill ProductOct'19 PSep'19 FMoMYTD'19YTD'18YoY
Ingots and Billets and Slabs697732368,55589.3%6,413,0107,329,400-12.5%
Sheets & Strip Galv Hot Dipped221711196,14813.0%2,117,8972,610,030-18.9%
Oil Country Goods121.169150,290-19.4%2,109,5052,496,089-15.5%
Line Pipe75744108,311-30.1%1,666,0961,810,220-8.0%
Sheets Hot Rolled160.901166,812-3.5%1,587,8502,224,106-28.6%
Sheets Cold Rolled122,214137,002-10.8%1,441,2481,924,519-25.1%
Bars - Reinforcing61,46977,300-20.5%996,1131,078,394-7.6%
Plates in Coils91,10280,30813.4%990,0811,342,214-26.2%
Wire Rods69.27355,68224.4%849,511932,875-8.9%
Bars - Hot Rolled63,08564,212-1.8%756,0441,038,420-27.2%
Tin Plate51,82055,359-6.4%666,653662,7130.6%
Sheets & Strip All Other Metalic47,31860,094-21.3%619,552793,882-22.0%
Wire Drawn50,37049,9180.9%594,694659,778-9.9%
Standard Pipe53,81852,5522.4%593,584780,331-23.9%
Structural Shapes Heavy46.35541,40811.9%505,749504,2760.3%
Plates Cut Lengths27,32237,145-26.4%498,958563,909-11.5%
Mechanical Tubing50,09944,40612.8%487,971558,542-12.6%
All Other165,963156,4626.1%1,875,7592,139,206-12.3%
SUBTOTAL Finished Imports1,478,7591,532,286-3.5%18,343,47522,094,485-17.0%

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Posted By : Rabi Wangkhem on Mon, 02 Dec 2019
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