US Steel Imports Rose 2.4% from April to May, says AIIS

Falls Church, VA (AIIS) - Steel imports crept up 2.4 percent from April to May, and the monthly total was nearly one-fifth higher than a year earlier.

The 3.4 million net tons of imports in May included 566,000 net tons from both Canada and Brazil, with imports from the latter country having spiked 77.2 percent from April and increased 18 percent from May 2016. The total from Canada was up 8.2 percent from the previous month and 11.7 percent from the previous May. Imports from the European Union totaled 477,000 net tons, a 14.1 percent decrease from April but a 26.2 percent increase from May of last year. Imports from South Korea totaled 329,000 net tons, a monthly increase of 3.1 percent but a decrease of 6.4 percent from a year earlier.

Through the first five months of the year, imports were up 22.1 percent at 15.7 million net tons compared to the same time in 2016. That total included 2.7 million net tons from Canada (a 13.2 percent increase), 2.1 million net tons from Brazil (a 15.2 percent increase), 1.9 million net tons from the European Union (an 11.8 percent increase), and 1.5 million net tons from South Korea (a 3.1 percent decrease).

Semifinished imports totaled 859,000 net tons in May, 8.9 percent higher than a year earlier. Year-to-date, semifinished imports were up 58.3 percent at 3.7 million net tons.

Courtesy: AIIS