October 08, 2008

US steel import in March up by 1.2% MoM

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2.513 million net tons of steel in March 2008, including 2.064 million net tons of finished steel up by 1% MoM and 7% MoM respectively.

Total and finished steel imports through the first quarter of 2008 are both down by 12% YoY total and finished steel imports are up by 8% QoQ and 13% QoQ respectively. Total and finished steel imports on an annualized basis are down 8% YoY and 7% YoY. On an annualized basis, total imports of steel in 2008 would be 30.7 million net tons.

Key products with large increases in March compared to the month before include:
1. Plates cut lengths up by 81% MoM
2. Standard pipe up by 69% MoM
3. Oil country goods up by 47% MoM
4. Galvanized Hot Dipped Sheets & Strip up by 45% MoM
5. Mechanical Tubing up by 35% MoM
6. Plates in Coil up by 27% MoM
7. Tin Plate up by 24% MoM

For the first three months of 2008, products showing increases vs. the same period in 2007 were
1. Line Pipe up by 43% MoM
2. Oil Country Goods up by 14% MoM
3. Heavy Structural Shapes up by 9% MoM

For March, the largest volume of finished steel imports from offshore were:
1. China 239,000 net tons up by 1% MoM
2. South Korea 159,000 net tons up by 5% MoM
3. Japan 138,000 net tons up by 56% MoM
4. India 98,000 net tons up by up 18% MoM
5. Germany 79,000 net tons down by 17% MoM