U.S. Finished Steel Imports Decline in June, But Up 22 Percent in First Half 2012

Based on the preliminary Census Bureau data, the American Iron and Steel Institute reported that the U.S. imported a total of 2,593,000 net tons of steel in June, including 2,098,000 NT of finished steel, down 15 and 13%, respectively, from May final data.  Year-to-date finished imports are up 22% towards the same period in 2011. Annualized total and finished steel imports in 2012 would be 34.8 and 27.0 million NT, respectively, up 22 and 24%, each, respectively vs. 2011. Finished steel import market share in June was 23% and is 24% year-to-date. A key finished steel product with a significant import increase in June 2012 compared to May is tin plate (up 20%).
Major products with significant year-to-date import increases vs. the same period last year include reinforcing bar (up 55%), plates – cut lengths (up 51%), oil country goods (up 40%), sheets and strip – all other metallic coatings (up 38%) and sheets and strip galvanized hot dipped (up 38%). In June, the largest volumes of finished steel imports from offshore were from South Korea (293,000 NT, down 14%), China (174,000 NT, up 1%), Japan (131,000 NT, down 30%), Germany (121,000 NT, no change) and Turkey (88,000 NT, down 33%).
  Please have a look at the press release of the AISI to see charts, and further data.