The USA imported 3.26Mt (net tons) of steel in October, including 1.99Mt (net tons) of finished steel, according to figures released by the American Iron and Steel Institute. These figures represent an increase of 44.2% and 6.7% respectively when compared with September figures.
Year-to-date through 10 months of 2018, total and finished steel imports are 29.4Mt (net tons) and 22Mt (net tons) and these figures are down 10.6% and 13.4% respectively when compared with the same period in 2017.
Annualised total and finished steel imports in 2018 would be 35.3Mt and 26.5Mt (net tons), down 7.4% and 10.4%, respectively, versus figures for 2017. The finished steel import market share was an estimated 20% in October and is estimated at 21% year-to-date.
Key finished steel products with a significant import increase in October compared to September were hot rolled bars (up 55%), line pipe (up 37%), mechanical tubing (up 23%), tin plate (up 13%) and wire drawn (up 13%). Major products with significant year-to-date increases versus the same period in 2017 include hot rolled sheets (up 23%) and plates in coils (up 19%).
In October, the largest volumes of finished steel imports from offshore were (all net tons) from South Korea (183kt, down 3% from September final), Vietnam (115kt, up 53%), Germany (113kt, down 3%), Japan (105kt, up 17%) and The Netherlands (78kt, up 35%).
For the first 10 months of 2018, the largest offshore suppliers were: South Korea (2.47Mt, down 26% versus the same period in 2017); Japan (1.16Mt, down 11%), Germany (1.1Mt, down 5%); Turkey (1Mt, down 50%) and Taiwan (913kt, down 21%).