September 08, 2008

US February steel import volume declines by 8% MoM

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,458,000 net tons of steel in February 2008, including 1,905,000 net tons of finished steel down by 8% MoM and 14%YoY respectively.

Total and finished steel imports on an annualized basis are down by 8% and 7% respectively as compared to 2007. On an annualized basis, total imports of steel in 2008 would be 30.7 million net tons.

For the first two months of 2008, products showing increases vs. the same period in 2007 were
1. Line Pipe up by 59%
2. Heavy Structural Shapes up by 19%
3. Hot Rolled Sheet up by 9%
4. Oil Country Goods up by 6%

For February, the largest volume of finished steel imports from offshore were
1. China at 235,000 net tons down by 14% MoM
2. South Korea 151,000 net tons down by 35% MoM
3. Japan 88,000 net tons down by 29% MoM
4. Germany 88,000 net tons up by2% MoM
5. India 83,000 net tons down by 19%MoM