Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 1,391,000 net tons of steel in June 2020, including 1,310,000 net tons of finished steel down 23.0% and down 12.7%, respectively, vs. May final data. Through the first six months of 2020, total and finished steel imports are 12,387,000 net tons and 8,632,000 net tons, down 20.8% and 26.2%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 24.8 and 17.3 million net tons, down 11.3% and 18.0%, respectively, vs. 2019.
Finished steel import market share was an estimated 21% in June and is estimated at 19% over the first six months of 2020. Key finished steel products with a significant increase in imports in June compared to May are line pipe up 30% and sheets and strip hot dipped galvanized up 23%.
In June the largest volumes of finished steel imports from offshore were from South Korea 187,000 net tons down 19% from May final, Germany 79,000 net tons up 22%, Taiwan 65,000 net tons down 22%, Japan 61,000 net tons down 41% and China 39,000 net tons up 13%.
For the first six months of 2020, the largest offshore suppliers were South Korea 1,124,000 net tons down 23% vs. the same period in 2019, Japan 434,000 net tons down 40%, Germany 377,000 net tons down 39%, Taiwan 333,000 net tons down 36% and Turkey 323,000 net tons up 66%.
Steel Mill Product | Jun’20 P | May’20 F | MoM | H1’20 | H1’19 | YoY |
Ingots and Billets and Slabs | 79,735 | 305,577 | -73.9% | 3,745,115 | 3,936,891 | -4.9% |
Sheets & Strip Galv. Hot | 168,922 | 137,024 | 23.3% | 1,083,042 | 1,284,918 | -15.7% |
Sheets Hot Rolled | 121,967 | 121,533 | 0.4% | 825,052 | 927,805 | -11.1% |
Oil Country Goods | 103,014 | 166,572 | -38.2% | 771,588 | 1,446,062 | -46.6% |
Sheets Cold Rolled | 101,786 | 134,848 | -24.5% | 727,231 | 911,508 | -20.2% |
Bars – Reinforcing | 77,654 | 126,256 | -38.5% | 607,196 | 675,993 | -10.2% |
Plates in Coils | 58,445 | 63,003 | -7.2% | 434,070 | 629,601 | -31.1% |
Line Pipe | 85,608 | 65,748 | 30.2% | 407,524 | 1,175,109 | -65.3% |
Wire Rods | 53,159 | 69,636 | -23.7% | 384,281 | 563,774 | -31.8% |
Bars – Hot Rolled | 52,066 | 67,386 | -22.7% | 362,960 | 474,281 | -23.5% |
Sheets & Strip All Other Metalic | 55,580 | 67,454 | -17.6% | 350,988 | 383,465 | -8.5% |
Tin Plate | 60,280 | 76,033 | -20.7% | 335,472 | 410,508 | -18.3% |
Standard Pipe | 55,237 | 67,770 | -18.5% | 332,710 | 357,472 | -6.9% |
Wire Drawn | 49,817 | 50,886 | -2.1% | 327,752 | 374,745 | -12.5% |
Mechanical Tubing | 41,910 | 41,796 | 0.3% | 292,299 | 289,088 | 1.1% |
Structural Shapes Heavy | 25,498 | 49,984 | -49.0% | 240,230 | 308,684 | -22.2% |
Plates Cut Lengths | 28,684 | 38,669 | -25.8% | 199,161 | 335,575 | -40.7% |
All Other | 171,961 | 156,314 | 10.0% | 960,700 | 1,152,879 | -16.7% |
TOTAL | 1,391,324 | 1,806,488 | -23.0% | 12387371 | 15638359 | -20.8% |
SUBTOTAL Finished Imports | 1,309,909 | 1,499,903 | -12.7% | 8,632,456 | 11,692,974 | -26.2% |