US Steel Imports in January-April 2021 Up by 0.8% YoY
US Steel ImportsDNV

US Steel Imports in January-April 2021 Up by 0.8% YoY

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,634,000 net tons of steel in

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,634,000 net tons of steel in April 2021, including 1,654,000 net tons of finished steel (up 14.1% and down 7.6%, respectively, vs. March final data). Through the first four months of 2021, total and finished steel imports are 9,263,000 net tons and 6,117,000 net tons, up 0.8% and 5.1%, respectively, vs. the same period in 2020. Annualized total and finished steel imports in 2021 would be 27.8 and 18.4 million net tons, up 26.2% and 13.7%, respectively, vs. 2020. Finished steel import market share was an estimated 18% in April and is estimated at 18% over the first four months of 2021.

Key finished steel products with a significant increase in imports in April compared to March are heavy structural shapes (up 72%), plates in coils (up 35%), cut lengths plates (up 27%), hot rolled sheets (up 19%) and standard pipe (up 11%). Products with a significant year-to-date (YTD) increase vs. the same period in 2020 were cut lengths plates (up 37%), hot rolled sheets (up 32%), sheets and strip all other metallic coatings (up 28%), plates in coils (up 19%), wire drawn (up 12%) and reinforcing bars (up 12%).

In April, the largest volumes of finished steel imports from offshore were from South Korea (263,000 NT, up 10% from March final), Japan (88,000 NT, up 3%), Turkey (63,000 NT, up 49%), Germany (47,000 NT, down 42%) and Vietnam (46,000 NT, up 4%). For the first four months of 2021, the largest offshore suppliers were South Korea (864,000 NT, up 22% vs. the same period in 2020), Japan (306,000 NT, up 13%), Turkey (264,000 NT, up 27%), Germany (218,000 NT, down 7%) and Taiwan (189,000 NT, up 2%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.

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