U.S. YTD Steel Imports Slumped 22% Through November

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) announced that the total steel imports by the U.S. were 1.370 million net tons in November this year. This is based on the monthly imports data published by the U.S. Census Bureau. The imports were down by almost 9.2%, compared with the October 2020 final imports.

The finished steel imports during the month totalled 1.181 million net tons, marginally down by 5.5% upon comparison with the final finished steel imports in October this tear. The finished steel import market share was estimated at 17% during the month. The largest offshore suppliers of finished steel in November this year were South Korea, Germany and Turkey.

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The imports of tin plates and standard pipes surged higher significantly in November, higher by nearly 43% and 27% respectively. The other finished steel product to witness notable volume jump was wire rods, whose imports were up by 21% over the prior month, AISI data said.

Through the first eleven months of 2020, the country recorded total and finished steel imports of 20.526 million net tons and 14.799 million net tons respectively. The year-to-date imports of total and finished steel reported sharp declines by 22.1% and 24.9% respectively, over the previous year.

The AISI estimates the annualized total and finished steel imports for the whole year 2020 at 22.4 million net tons and 16.1 million net tons respectively.