US Finished Steel Imports Surge by 44% YoY in Jan-Nov 2021
Strategic Research Institute
Published on :
09 Dec, 2021, 5:33 am
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute has reported that For the first eleven months of 2021, total and finished steel imports into US were 29,239,000 net tons and 21,347, net tons, up 42.5% and 44.2%, respectively, from the same period in 2020. The estimated finished steel import market share in November was 25% and is 21% year-to-date.
Products with significant year-to date increases vs. the same period in 2020 include hot rolled sheets up 126%, plates in coils up 102%, sheets and strip all other metallic coatings up 66%, wire rods up 60%, oil country goods up 60%, cut lengths plates up 59%, cold rolled sheets up 38%, hot rolled bars up 31%, heavy structural shapes up 30%, sheets and strip hot dipped galvanized up 28%, wire drawn up 24% and reinforcing bars up 21%).
Through the first eleven months of 2021, the largest offshore suppliers were South Korea at 2,538,000 net tons up 42% from the same period last year, Turkey 1,437,000 net tons up 162% and Japan 982,000 net tons up 38%.
November - US steel import permit applications for the month of November totaled 2,678,000 net tons. This was 3.2% increase from the 2,594,000 permit tons recorded in October 2021 and a 2.2% decrease from the October final imports total of 2,740,000 net tons. Import permit tonnage for finished steel in November was 2,304,000 net tons, down 2.2% from the final imports total of 2,356,000 in October.
Finished steel imports with large increases in November permits vs. the October final imports include black plate up 82%, heavy structural shapes up 53%, sheets and strip all other metallic coatings up 32%, hot rolled bars up 32%, standard pipe up 26%, line pipe up 26%, sheets and strip hot dipped galvanized up 21%, tin plate up 21%, oil country goods up 16% and cold rolled sheets up 14%.
In November, the largest finished steel import permit applications for offshore countries were for South Korea at 220,000 net tons down 2% from October final, Vietnam 191,000 net tons up 74%, Japan 153,000 net tons up 90%, Turkey 118,000 net tons down 21% and The Netherlands 94,000 net tons up 76%).