US imports of steel products gain 19.4% on year: Census Bureau

US imports of steel products gain 19.4% on year: Census Bureau. The US imported slightly more than 2.22 million mt of finished and semi-finished steel products in March. It was the highest monthly total for eight months, when the US imported 2.20 million mt of steel products in July 2010, according to preliminary data released by the US Census Bureau. The March total was an increase of 19.4% from 1.86 million mt in March 2010, and a gain of 32.9% from the February total of 1.67 million mt, according to the preliminary data. The biggest increases in March imports were reported for semi-finished steel products (ingots, blooms, billets and slabs), which jumped 47.8% to 540,553 mt from 365,629 mt in March 2010, and 368,675 mt in February. Significant annual increases were also reported for oil country tubular goods, which were up 65.6% compared with March 2010; reinforcing bar, up 64.7%; beams and heavy structural shapes, up 80.6%; and cold-rolled sheet, up 65.9%. Annual decreases were reported for large-diameter line pipe, which dropped 69% compared with March 2010; cut-to-length plate, down 30.6%; wire rod, down 31.5%; and hot-dipped galvanized sheet and strip, down 26.9%. Canada was the largest source of US steel imports in March, accounting for 510,194 mt million mt, although this was 17.9% lower than its March 2010 total. Significant import volume also came from Mexico (319,625 mt); the European Union (393,627 mt); South Korea (208,162 mt); Japan (162,233 mt); and Brazil (139,224 mt). China, the subject of numerous trade complaints in recent years, shipped only 61,139 mt of steel products to the US in March. Russia and Ukraine, which have emerged as key exporters to the US, shipped 89,575 mt and 77,960 mt, respectively.