The American Iron and Steel Institute (AISI) has reported* that the US imported a total of 2.89Mt (all figures are net tons) of steel in June 2021, including 2.01Mt of finished steel (up 14.8% and 8.7%, respectively when compared with May final data).
Through the first six months of 2021, total and finished steel imports are 14.68Mt and 9.99Mt, up 18.5% and 15.6%, respectively, versus the same period in 2020. Annualized total and finished steel imports in 2021 would be 29.4Mt and 20Mt, up 33.4% and 23.9%, respectively, against 2020 figures. Finished steel import market share was an estimated 21% in June and is estimated at 19% over the first six months of 2021.
Key finished steel products with a significant increase in imports in June compared to May are hot rolled sheets (up 48%), heavy structural shapes (up 38%), oil country goods (up 35%), line pipe (up 30%), wire rods (up 21%), cold rolled sheets (up 19%), cut lengths plates (up 17%), plates in coils (up 13%), reinforcing bars (up 12%) and hot rolled bars (up 11%). Products with a significant year-to-date increase compared with the same period in 2020 were hot rolled sheets (up 63%), plates in coils (up 41%), cut lengths plates (up 35%), sheets and strip all other metallic coatings (up 31%), wire rods (up 26%), wire drawn (up 22%), tin plate (up 18%), hot rolled bars (up 13%) and sheets and strip galvanized hot dipped (up 12%).
In June, the largest volumes of finished steel imports from offshore were from South Korea (274kt, up 45% from May final), Japan (117kt, up 22%), Turkey (98kt, up 46%), Germany (95kt, down 2%) and Taiwan (84kt, up 1%). For the first six months of 2021, the largest offshore suppliers were South Korea (1.33Mt, up 18% versus the same period in 2020); Japan (521kt, up 20%); Turkey (429kt, up 33%); Germany (410kt, up 9%); and Taiwan (357kt, up 7%).
* Based on preliminary Census Bureau data.