U.S. Finished Steel Imports to Dip Substantially in 2020

SEATTLE (Scrap Monster): The latest report published by the American Iron and Steel Institute (AISI) forecasts notable decline in finished steel imports by the country during the current year. Based on the import trend for the first half-yearly period of the year, AISI predicts approximately 18% year-on-year decline in 2020, in comparison with the year before that.

The U.S. finished steel imports are likely to total 17.265 million net tons in 2020, lower by 18.0% when compared with the imports of 21.051 million NT in 2019. Also, the total steel imports by the country are likely to witness a decline of over 11% from 27.937 million NT in 2019 to 24.775 million NT in 2020.

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Among various steel mill products, only Ingots and Billets and Slabs, Galvanized Hot Dipped Sheets and Strips and Reinforcing bars are likely to report surge in imported volume. The imports of all other categories are expected to record lower volumes. The AISI predicts that Line Pipes are likely to report sharpest decline, with imports falling by over 55% year-on-year. The imports of Oil Country Goods and Cut Length Plates are likely to fall by 34.4% and 31.8% respectively.

The imports of finished steel mill products from Turkey are likely to surge the most, by nearly 97%. The imports from China are likely to see largest year-on-year decline, falling by 36.6%. Also, imports from Japan and Germany are likely to record notable declines.