Based on preliminary Census Bureau data, the American Iron and Steel Institute reported today that the US imported a total of 3,028,000 net tons of steel in July 2019, including 1,843,000 net tons of finished steel (up 48.3% and 6.6%, respectively, vs. June final data). Through the first seven months of 2019, total and finished steel imports are 18,666,000 and 13,536,000 net tons, down 10.6% and 16.4%, respectively, vs. the same period in 2018. Annualized total and finished steel imports in 2019 would be 32.0 and 23.2 million NT, down 5.1% and 9.7%, respectively, vs. 2018. Finished steel import market share was an estimated 19% in July and is estimated at 21% over the first seven months of 2019.
Key finished steel products with a significant import increase in July compared to June were cut lengths plates (up 55%), line pipe (up 29%), hot rolled bars (up 24%), plates in coils (up 23%), standard pipe (up 21%), hot rolled sheets (up 19%), sheets and strip hot dipped galvanized (18%), wire rods (up 16%), mechanical tubing (up 16%), sheets and strip all other metallic coatings (up 11%), and heavy structural shapes (up 10%).
In July the largest volumes of finished steel imports from offshore were from South Korea (180,000 NT, up 10% from June final), Japan (87,000 NT, down 23%), Taiwan (83,000 NT, down 3%), Brazil (80,000 NT, up 423%) and Germany (75,000 NT, down 24%). For the first seven months of 2019, the largest offshore suppliers were South Korea (1,629,000 NT, down 16% vs. the same period in 2018), Japan (810,000 NT, down 7%), Germany (692,000 NT, down 9%), Taiwan (606,000 NT, down 8%) and Vietnam (496,000 NT, down 21%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.
Steel Mill Product | July 2019 Prelim. | June 2019 Final | MoM | YTD 2019 (7 mo.) | YTD 2018 (7 mo.) | YoY |
Ingots and Billets and Slabs | 1.182.757 | 311.602 | 279.6% | 5.119.648 | 4.653.107 | 10.0% |
Oil Country Goods | 204.153 | 198.862 | 2.7% | 1.650.215 | 1.934.009 | -14.7% |
Sheets & Strip Galv. Hot Dipped | 210.498 | 178.644 | 17.8% | 1.495.416 | 1.858.130 | -19.5% |
Line Pipe | 160.301 | 124.572 | 28.7% | 1.335.411 | 1.297.138 | 3.0% |
Sheets Hot Rolled | 158.499 | 133.409 | 18.8% | 1.086.304 | 1.520.376 | -28.6% |
Sheets Cold Rolled | 130.813 | 143.872 | -9.1% | 1.042.321 | 1.410.343 | -26.1% |
Bars – Reinforcing | 87.043 | 98.232 | -11.4% | 763.036 | 811.809 | -6.0% |
Plates in Coils | 108.088 | 87.980 | 22.9% | 737.689 | 931.102 | -20.8% |
Wire Rods | 86.594 | 74.508 | 16.2% | 650.368 | 659.976 | -1.5% |
Bars – Hot Rolled | 86.231 | 69.498 | 24.1% | 560.512 | 789.538 | -29.0% |
Tin Plate | 73.824 | 94.998 | -22.3% | 484.332 | 476.972 | 1.5% |
Sheets & Strip All Othet Met. Ctd. | 65.927 | 59.372 | 11.0% | 449.392 | 579.807 | -22.5% |
Wire Drawn | 62,863 | 58.805 | 6.9% | 437.608 | 478.626 | -8.6% |
Standard Pipe | 67.443 | 55.769 | 20.9% | 424.915 | 585.411 | -27.4% |
Plates Cut Lengths | 60.279 | 38.904 | 54.9% | 395.854 | 398.633 | -0.7% |
Structural Shapes Heavy | 53.746 | 48.711 | 10.3% | 362.430 | 411.451 | -11.9% |
Mechanical Tubing | 58.294 | 50.428 | 15.6% | 347.382 | 417.926 | -16.9% |
All Other | 170.317 | 213.116 | -20.1% | 1.323.196 | 1.658.783 | -20.2% |
TOTAL | 3.027.669 | 2.041.281 | 48.3% | 18.666.028 | 20.873,136 | -10.6% |
SUBTOTAL Finished Imports | 1.842.607 | 1,727.91 | 6.6% | 13.535,580 | 16.197,913 | -16.4% |
Country | July 2019 Prelim. | June 2019 Final | MoM | YTD 2019 (7 mo.) | YTD 2018 (7 mo.) | YoY |
South Korea | 180 | 163 | 10.4% | 1,629 | 1,932 | -15.70% |
Japan | 87 | 112 | -22.5% | 810 | 873 | -7.1% |
Germany | 75 | 100 | -24.4% | 692 | 758 | -8.7% |
Taiwan | 83 | 86 | -3.30% | 606 | 659 | -8.10% |
Vietnam | 68 | 59 | 15.4% | 496 | 627 | -21.0% |
Brazil | 80 | 15 | 422.7% | 396 | 426 | -6.90% |
China | 43 | 56 | -23.40% | 390 | 431 | -9.5% |
Italy | 43 | 31 | 38.3% | 357 | 359 | -0.50% |
All Other | 1,184 | 1,106 | 7.1% | 8,159 | 10,133 | -19.5% |
Total | 1,843 | 1,728 | 6.6% | 13,536 | 16,198 | -16.4% |