Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2.767 million net tons of steel in August 2021, including 2.102 million net tons of finished steel, down 10.1% and up 1.0%, respectively vs July data. Key finished steel products with a significant increase in imports in August compared to July are hot rolled sheets up 22%, sheets and strip hot dipped galvanized up 18% and mechanical tubing up 14%.

Through the first eight months of 2021, total and finished steel imports are 20.564 million net tons and 14.209 million net tons, up 25.5% and 26.9%, respectively YoY. Finished steel import market share was an estimated 21% in August and is estimated at 20% over the first eight months of 2021. Products with a significant year-to-date YTD increase vs. the same period in 2020 were hot rolled sheets up 94%, plates in coils up 67%, sheets and strip all other metallic coatings up 50%, wire rods up 46%, cut lengths plates up 45%, heavy structural shapes up 27%, wire drawn up 23%, hot rolled bars up 22%, sheets and strip hot dipped galvanized up 19%, cold rolled sheets up 18%, tin plate up 14% and oil country goods up 14%.

Annualized total and finished steel imports in 2021 would be 30.8 million net tons and 21.3 million net tons, up 40.1% and 32.1%, respectively, vs 2020.

US’s Finished Steel Imports in Jan-Aug Surge by 27% YoY

Strategic Research Institute

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