August 22, 2008

US Steel import in October up by 13% YoY

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,700,000 net tons of steel in October 2007, including 1,913,000 net tons of finished steel up by 13% and down by 6% respectively as compared to September final data.

While overall imports year to date have declined vs. the all time record year of 2006, total and finished steel imports year to date, on an annualized basis, remain up 8% and 10%, respectively, vs. 2005, which itself saw historically high import levels. On an annualized basis, total imports of steel in 2007 would be 34.6 million net ton.

Among the finished steel products showing large increases in October 2007 vs. the prior month were:
1. Heavy structural shapes -Up by 43% MoM
2. Bars cold finished –Up by 40% MoM
3. Cold rolled sheets - Up by 19% MoM
4. Tubular products, including line pipe, standard pipe and structural pipe & tubing -Up by 19% MoM, 16% MoM and 12% MoM respectively.

In October, the three largest suppliers of finished steel from offshore were
1. China - 303,000 net tons down by 9% MoM
2. South Korea -161,000 net tons down by 3% MoM
3. Japan -109,000 net tons up by 15% MoM percent).

Mr Andrew G Sharkey III AISI President and CEO said that “It is a top policy priority to remain vigilant regarding high levels of dumped and subsidized imports, given the ongoing surges we are seeing in specific product categories and from certain countries some of which are repeat offenders.”