Jul 28, 2020
Finished Steel Imports Dipped 26% Until June
2020-07-29
The total steel imports were down sharply by 23% in the month of June, when compared with the May final data.
SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) today reported that the country imported a total of 1.391 million net tons (NT) during the month of June this year. The imports through the initial six months of the current year totalled 12.387 million NT. The above figures are based on the most recent data published by the U.S. Census Bureau.
The total steel imports were down sharply by 23% in the month of June, when compared with the May final data. The imports through June also recorded notable decline by 20.8% over the previous year.
The monthly finished steel imports were down by 12.7% to 1.310 million NT. The H1 imports totalled 8.632 million NT, down significantly by 26.2% in comparison with the same period last year. Also, the finished steel market share stood at 21% in June and nearly 19% during the initial six months in 2020.
The AISI predicts the total and finished steel imports for the whole year 2020 at 24.8 million NT and 17.3 million NT respectively.
The finished steel product to report highest increase in import volumes over the previous month was line pipes, whose imports edged higher by 30%. The imports of hot dipped galvanized sheets and strip too were up significantly by 23%. The largest offshore suppliers of imported finished steel by the U.S. were South Korea, Germany and Taiwan.
Source: Scrapmonster
