US Steel Imports in Jan-May 2021 up by 7% YoY
Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,513,000 net tons of steel in May 2021, including 1,845,000 net tons of finished steel (down 4.8% and up 11.3%, respectively, vs. April final data). Through the first five months of 2021, total and finished steel imports are 11,780,000 net tons and 7,966,000 net tons, up 7.1% and 8.8%, respectively, vs. the same period in 2020. Annualized total and finished steel imports in 2021 would be 28.3 million net tons and 19.1 million net tons, up 28.4% and 18.5%, respectively, vs. 2020. Finished steel import market share was an estimated 20% in May and is estimated at 19% over the first five months of 2021.
Key finished steel products with a significant increase in imports in May compared to April are tin plate (up 240%), wire rods (up 57%), sheets and strip hot dipped galvanized (up 24%) and cold rolled sheets (up 47%). Products with a significant year-to-date increase vs. the same period in 2020 were hot rolled sheets (up 42%), sheets and strip all other metallic coatings (up 30%), cut lengths plates (up 30%), plates in coils (up 28%), tin plate (up 17%), wire drawn (up 16%) and sheets and strip galvanized hot dipped (up 12%).