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 ProductJun’20 PMay’20 FMoMH1’20H1’19YoY
Ingots and Billets and Slabs79,735305,577-73.9%3,745,1153,936,891-4.9%
Sheets & Strip Galv. Hot168,922137,02423.3%1,083,0421,284,918-15.7%
Sheets Hot Rolled121,967121,5330.4%825,052927,805-11.1%
Oil Country Goods103,014166,572-38.2%771,5881,446,062-46.6%
Sheets Cold Rolled101,786134,848-24.5%727,231911,508-20.2%
Bars – Reinforcing77,654126,256-38.5%607,196675,993-10.2%
Plates in Coils58,44563,003-7.2%434,070629,601-31.1%
Line Pipe85,60865,74830.2%407,5241,175,109-65.3%
Wire Rods53,15969,636-23.7%384,281563,774-31.8%
Bars – Hot Rolled52,06667,386-22.7%362,960474,281-23.5%
Sheets & Strip All Other Metalic55,58067,454-17.6%350,988383,465-8.5%
Tin Plate60,28076,033-20.7%335,472410,508-18.3%
Standard Pipe55,23767,770-18.5%332,710357,472-6.9%
Wire Drawn49,81750,886-2.1%327,752374,745-12.5%
Mechanical Tubing41,91041,7960.3%292,299289,0881.1%
Structural Shapes Heavy25,49849,984-49.0%240,230308,684-22.2%
Plates Cut Lengths28,68438,669-25.8%199,161335,575-40.7%
All Other171,961156,31410.0%960,7001,152,879-16.7%
TOTAL1,391,3241,806,488-23.0%1238737115638359-20.8%
SUBTOTAL Finished Imports1,309,9091,499,903-12.7%8,632,45611,692,974-26.2%