US Steel Imports in January 2021 Shrink by 23% YoY
Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,422,000 net tons of steel in January 2021, including 1,239,000 net tons of finished steel, down 23.1% and 24.8% respectively vs January 2020. Total and finished steel imports are up 62.2% and down 7.5%, respectively, vs. the prior month, December 2020. Finished steel import market share was an estimated 15% in January 2021.
Key finished steel products with a significant import increase in January compared to December are reinforcing bars up 121%, heavy structural shapes up 115%, sheets and strip all other metallic coatings up 20%, structural pipe and tubing up 29% and mechanical tubing up 12%.
In January, the largest volumes of finished steel imports from offshore were from South Korea 131,000 net tons down 41% from December final, Turkey 82,000 net tons up 498%, Japan 46,000 net tons down 17%, Brazil 42,000 net tons up 8% and United Arab Emirates 31,000 net tons up 152%.