Imports of steel into the US continues to increase

The US imported 2,718,000 net tons of steel in November 2017, including 2,126,000 net tons of finished steel (down 14.6% and 16.8, respectively, vs. October final data), based on preliminary Census Bureau data. Year-to- date (YTD) through eleven months of 2017, total and finished steel imports are 35,632,000 and 27,637,000 net tons, up 17.5% and 14.3%, respectively, vs. the same period in 2016. Annualized total and finished steel imports in 2017 would be 38.9- and 30.1-million NT, up 17.7% and 14.5%, respectively, vs. 2016. Finished steel import market share was an estimated 25% in November and is estimated at 27% YTD.

Major products with significant year-to-date increases vs. the same period in 2016 include oil country goods (up 223%), line pipe (up 69%), standard pipe (up 41%), mechanical tubing (up 31%), hot rolled bars (up 25%), sheets and strip all other metallic coatings (up 21%), cold rolled sheets (up 18%) and sheets and strip hot dipped galvanized (up 15%).

In November, the largest volumes of finished steel imports from offshore were from South Korea (210,000 tons, down 47% from October final), Germany (141,000 net tons, down 10%), Japan (115,000 net tons, up 59%), The Netherlands (110,000 net tons, up 124%) and Brazil (98,000 net tons, up 5%).

For the first eleven months of 2017, the largest offshore suppliers were South Korea (3,558,000 net tons, up 0.4% vs. the same period in 2016), Turkey (2,133,000 net tons, down 6%), Japan (1,422,000 net tons, down 16%), Germany (1,301,000 net tons, up 18%) and Taiwan (1,204,000 net tons, up 29%).

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