US Finished Steel Imports in 11 Months Down 25% YoY
Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 1,370,000 net tons of steel in November 2020, including 1,181,000 net tons of finished steel down 9.2% and 5.5%, respectively, vs October final data. Through the first eleven months of 2020, total and finished steel imports are 20,526,000 net tons and 14,799,000 net tons, down 22.1% and 24.9%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 22.4 and 16.1 million net tons, down 19.8% and 23.3%, respectively, vs. 2019.
Finished steel import market share was an estimated 17% in November and is estimated at 18% over the first eleven months of 2020.
Key finished steel products with a significant increase in imports in November compared to October are tin plate (up 43%), standard pipe (up 27%), wire rods (up 21%) and sheets and strip all other metallic coatings (up 19%).
Source - Strategic Research Institute