Finished Steel Imports to Witness Substantial Surge in 2021

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

The country is likely to witness 23.9% surge in finished steel imports in the entire year 2021. As per estimates, the full-year finished imports are likely to total 19.989 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 33.4% from 22.019 million net tons in 2020 to 29.375 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, rising significantly by 65.8% from the previous year. The imports of ingots and billets and slabs and plates in coils are likely to increase by 59.7% and 52.5% respectively. On the other hand, the imports of standard pipes and line pipes are projected to decline by 8% and 2.4% respectively.

The imports of finished steel mill products from Turkey are likely to surge higher by 52.5% in 2021. On the contrary, AISI forecasts nearly 21.4% contraction in finished imports from Brazil during the year.