Chesterton Tribune



Steel imports down in first half of 2020

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The American Iron and Steel Institute is reporting that steel import applications in June totaled 2,003,000 net tons (NT), a 12-3-percent decrease from May but a 10-9-percent increase over the May final imports total.

Important permit tonnage for finished steel in June was 1,415,000 NT, down 5.78 percent from the May final imports total.

For the first six months of 2020, total and finished steel imports were 12,999,000 NT and 8,737,000 NT, down 16.9 percent and 25.3 percent respectively from the year-ago period.

The estimated finished steel import market share in June was 21 percent and is 19 percent in the year-to-date.

Finished steel imports with significant month-over-month increases in June included light shapes bars, up 77 percent; sheets and strip hot-dipped galvanized, up 68 percent; cold-finished bars, up 55 percent; line pipe, up 39 percent; and structural pipe and tubing, up 19 percent.

Products with significant year-over-year increases include light shapes bars, up 25 percent; and tin free steel, uip 20 percent.

In June the largest steel import permit applications for offshore countries were for South Korea, 211,000 NT, down 8 percent from May final; Brazil, 86,000 NT, up 66 percent; Taiwan, 72,000 NT, down 13 percent; Germany, 72,000 NT, up 11 percent; and Japan, 57,000 NT, down 44 percent.

For the first six months of the year, the largest offshore suppliers were South Korea, 1,148,000 NT, down 21 percent from the year-ago; Japan, 430,000 NT, down 41 percent; and Germany, 369,000 NT, down 40 percent.

Note that import permits data are counts of tonnages requested in applications for licenses to import steel products and are not actual import volumes. For a number of reasons, permit tonnages may understate or overstate actual import volumes for the month.


Posted 7/9/2020




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