U.S. Steel Imports to Witness Notable Surge This Year

The imports of hot rolled sheets are likely to register the biggest year-on-year surge during the year, rising significantly by 104.5% from the previous year.

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) forecasts significant jump in imports of finished steel by the country during 2021. The estimates provided by the association are based on the import trends during the initial nine-month period of the current year.

The country is likely to witness 37.8% surge in finished steel imports in the entire year 2021. As per estimates, the full-year finished imports are likely to total 22.246 million net tons in 2021. The U.S. finished steel imports had totalled 16.139 million net tons in the whole of 2020. Meantime, the total steel imports are likely to surge higher by 44.2% from 22.019 million net tons in 2020 to 31.742 million net tons during this year, AISI said.

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The imports of hot rolled sheets are likely to register the biggest year-on-year surge during the year, rising significantly by 104.5% from the previous year, followed by plates in coils with an year-on-year surge by 81.6%. The imports of ingots and billets and slabs and plates in coils are likely to increase by 61.6%, compared to 2020. On the other hand, the imports of standard pipes are likely to see record marginal decline by 1.7%.

The imports of finished steel mill products from Vietnam are likely to surge higher by 106% in 2021. Also, imports from Turkey and Taiwan are projected to surge higher significantly by 60.1% and 47.2% respectively.

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