Finished Steel Imports Surged Significantly Through July

SEATTLE (Scrap Monster): The total steel imports stood at 17.729 million net tons during the initial seven-month period of the current year, as per the most recent Steel Import Monitoring and Analysis (SIMA) data published by the U.S. Commerce Department. This is significantly higher by 17.4% when compared with the imports during the corresponding period in 2020. The finished steel imports too were up by 20.6% over the previous year to total 12.086 million net tons in Jan-July ’21.

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The finished steel product that reported highest surge in import volumes was hot rolled sheets, whose imports during Jan-July ’21 recorded nearly 76% year-on-year surge. The imports of plates in coils and cut lengths plates too were up by 52% and 44% respectively. The other products with large increases in imports were sheets and strip all other metallic coatings and wire rods, whose imports surged higher by 41% and 40% respectively, said the American Iron and Steel Institute (AISI).

Through the initial seven-month period in 2021, South Korea was the largest offshore supplier of steel to the U.S. The supplies from that country were up by 7% from the same period last year to total 1.624 million net tons. The second largest supplier was Japan, with supplies totalling 590,000 net tons, followed by Turkey with 485,000 net tons.