Steel imports up 22 percent over 2016
Released in time:8/29/2017 1:19:01 AM Browse The Times:156

The U.S. imported 3.4 million tons of steel last month, a decline of 11.5 percent as compared to June, according to preliminary Census Bureau data.

That included 2.8 million tons of finished steel products that wouldn't need to be processed further in the U.S., which is a 4 percent month-over-month decline. Despite the overall drop, imports of standard pipe, cut lengths plates, line pipe and oil country goods, all jumped by double digits in July.

Through the first seven months of the year, imports totaled 23.1 million tons, a 22.1 percent increase as compared to the same period in 2016, according to the American Iron and Steel Institute. So far this year, finished steel imports rose by 17.3 percent to 17.9 million tons as promised tariffs and quotas have failed to materialize.

Imports of oil country goods have skyrocketed by 254 percent through the end of July, according to the AISI. Standard pipe, line pipe, cold rolled sheets, sheets and strip all other metallic coatings, mechanical tubing, hot rolled bars, sheets and strip hot dipped galvanized, wire rods and tin plate all increased by double digits when compared to last year.

Imports of finished steel products captured 29 percent of the market share in July, and seized 28 percent so far this year.

At the current rate, the U.S. is on pace to import 39.7 million tons in 2017, a 20.3 percent increase.

During the first seven months of the year, the largest offshore suppliers were South Korea, Turkey, Japan, Taiwan and Germany. Imports from Taiwan are up 54 percent and down 5 percent from South Korea.

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