U.S. Steel Imports Plunged in February

SEATTLE (Scrap Monster): The total steel imports stood at 2.339 million net tons during the month of February this year, as per the most recent statistics published by the U.S. Census Bureau. This is significantly down by 23.1% when compared with the final imports in January 2022. The finished steel imports too registered substantial decline by 19.7% year-on-year to total 1.831 million net tons.

The finished steel product that reported highest surge in import volumes was reinforced bars, whose imports during February 2022 recorded nearly 96% year-on-year surge. The imports of heavy structural shapes too were up by 34%. The other product to witness notable surge in imports was line pipe with 19% year-on-year surge.

Over the 12-month period from March 2021 to February 2022, the total and finished steel imports were up by 50.1% and 53.1% respectively. The finished steel import market share was estimated at 22% in February and at 23% over the first two months of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from March 2021 to February 2022 compared to the previous 12-month period include hot rolled sheets and sheets and strip all other metallic coated, whose imports skyrocketed by 93% and 92% respectively.

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