Steel Imports Rise 12 Percent In May
28 June 2016
The United States imported 2.7 million net tons of steel in May, a 12.2 percent increase over the previous month.
Imports of finished steel rose 1.8 percent to 2 million tons in May, according to the American Iron and Steel Institute. Despite that rise, steel products that were both made and finished abroad snatched 23 percent of the market share last month, a significant drop from the record 29 percent in 2015, when U.S. steelmakers laid off more than 14,000 steelworkers, according to the United Steelworkers union.
Tin-plate imports rose 75 percent in May as compared to April, while reinforcing bars were up by 41 percent and heavy structural shapes increased by 32 percent, according to the American Iron and Steel Institute. Hot rolled sheet imports shot up by 18 percent, while oil country goods imports took off by 16 percent.
So far this year, finished steel imports have taken 24 percent of the market share in the United States.
The United States imported 12.7 million net tons of steel in the first five months of the year, a 31 percent decrease. Finished steel imports totaled 10.5 million net tons, also a 31 percent decline.
At this pace, the United States will import about 30.7 million net tons of steel this year, a 21 percent decline as compared to 2015, according to the American Iron and Steel Institute. Finished steel imports are at an annualized rate of 25.3 million, a 20 percent decrease compared to the same period last year.
Source : nwitimes.com