The United States’ imports of finished steel products increased moderately month on month but ballooned year on year in September, with most tracked commodities showing gains.

 

Aaccording to preliminary US Census Bureau data released on Tuesday October 26, the U.S. imported a total of 3,237,000 net tons (NT) of steel in September 2021, including 2,469,000 net tons (NT) of finished steel (up 16.7% and 17.1%, respectively, vs. August final data). Through the first nine months of 2021, total and finished steel imports are 23,806,000 and 16,684,000 net tons (NT), both up 34.9%, vs. the same period in 2020. Annualized total and finished steel imports in 2021 would be 31.7 and 22.2 million NT, up 44.2% and 37.8%, respectively, vs. 2020. Finished steel import market share was an estimated 25% in September and is estimated at 21% over the first nine months of 2021.

 

Key finished steel products with a significant increase in imports in September compared to August are line pipe (up 111%), oil country goods (up 104%), reinforcing bars (up 70%), cut lengths plates (up 44%), wire rods (up 33%), tin plate (up 27%), plates in coils (up 22%), standard pipe (up 18%), cold rolled sheets (up 17%) and hot rolled sheets (up 16%). Products with a significant year-to-date (YTD) increase vs. the same period in 2020 were hot rolled sheets (up 106%), plates in coils (up 81%), wire rods (up 56%), sheets and strip all other metallic coatings (up 53%), cut lengths plates (up 52%), oil country goods (up 37%), heavy structural shapes (up 29%), cold rolled sheets (up 28%), hot rolled bars (up 26%), wire drawn (up 24%), sheets and strip hot dipped galvanized (up 20%), tin plate (up 17%) and reinforcing bars (up 13%).

 

In September, the largest volumes of finished steel imports from offshore were from South Korea (299,000 NT, up 80% from August final), Turkey (118,000 NT, up 65%), Taiwan, China (94,000 NT, down 11%), Germany (88,000 NT, up 10%) and Japan (82,000 NT, up 6%). For the first nine months of 2021, the largest offshore suppliers were South Korea (2,095,000 NT, up 38% vs. the same period in 2020), Japan (749,000 NT, up 28%), Turkey (675,000 NT, up 58%), Germany (648,000 NT, up 24%) and Taiwan, China (633,000 NT, up 37%).