US Steel Imports in Jan-May 2021 up by 8% YoY
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute has reported that
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute has reported that steel import permit applications for the month of May totalled 2,621,000 net tons. This was a 3.8% increase from the 2,525,000 net tons permit tons recorded in April and a 0.7% decrease from the April final imports total of 2,638,000 net tons. Import permit tonnage for finished steel in May was 1,823,000 net tons, up 9.9% from the final imports total of 1,658,000 net tons in April. For the first five months of 2021, total and finished steel imports were 11,888,000 net tons and 7,944,000 net tons, up 8.1% and 8.5%, respectively, from the same period in 2020. The estimated finished steel import market share in May was 19% and is 18% year-to-date
Finished steel imports with large increases in May permits vs. the April final imports include tin plate up 210%, tin free steel up 75%, light shapes bars up 45%, cold rolled sheets up 39%, sheets and strip hot dipped galvanized up 30%, wire rods up 29% and wire drawn up 10%. Products with significant year-to date increases vs the same period in 2020 include hot rolled strip up 58%, light shapes bars up 55%, hot rolled sheets up 42%, sheets and strip all other metallic coatings up 30%, cut lengths plates up 30%, plates in coils up 29%, wire drawn up 18%, tin plate up 14% and sheets and strip hot dipped galvanized up 13%.
In May, the largest finished steel import permit applications for offshore countries were for South Korea at 236,000 net tons down 11% from April final), Japan 98,000 net tons up 11%, Germany 82,000 net tons up 72%, Turkey 74,000 net tons up 18% and Taiwan 74,000 net tons up 85%. Through the first five months of 2021, the largest offshore suppliers were South Korea 1,103,000 net tons up 18% from the same period last year, Japan 405,000 net tons up 8% and Germany 301,000 net tons up 1%.