The U.S. imported a total of 2,899,000 net tons of steel in March, up 7% from February final data according to the latest report from the American Iron and Steel Institute (AISI).
The report, which is based on preliminary Census Bureau data, shows that the March total included 2,163,000 net tons of finished steel, up 4% from February final data.
On an annualized basis, total steel imports in 2011 would be 33.7 million net tons, up 18% vs. 2011, while finished steel imports would be 25.8 million net tons, also up 18% vs. 2011. Finished steel import market share in March and Year-To-Date were both 23%, up from 22% in 2011.
Key finished steel products with significant import increases in March 2012 compared to February include
· Line pipe (up 51%)
· Cut-length plates (up 43%)
· Standard pipe (up 25%)
· Drawn wire (up 24%)
· Oil country goods (up 20%)
Major products with significant YTD import increases vs. the same period last year include
· Reinforcing bar (up 88%)
· Cut length plates (up 66%)
· Line pipe (up 62%)
· Plates in coils (up 53%)
· Hot dip galvanized sheet and strip (up 49%)
In March, the largest volumes of finished steel imports from offshore were from South Korea (271,000 net tons, down 11%), Japan (179,000 net tons, up 11%), Turkey (163,000 net tons, down 10%), Germany (116,000 net tons, up 61%) and China (104,000 net tons, up 20%). For the first 3 months of 2012, the largest offshore suppliers were South Korea (925,000 net tons, up 44%), Turkey (513,000 net tons, up 231%) and Japan (487,000 net tons, up 31%).
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. The Institute comprises 25 member companies, including integrated and electric furnace steelmakers, and 124 associate members who are suppliers to or customers of the steel industry.