US steel imports up 16.1% in March

According to preliminary census data from the US Department of Commerce, US monthly steel imports in March 2020 increased 16.1 % from February to total 1,587,758 mt. A year-on-year comparison shows a 22.8 percent decrease. In terms of value, US steel imports in March totaled $1.53 billion, compared to $1.31 billion in February and $1.98 billion in March 2019.

Top sources for US steel imports in March include: Canada, with 486,012 mt; Mexico, with 246,767 mt; Korea, with 185,973 mt; Russia, with 80,234 mt; and Germany, with 69,313 mt.

Major steel products imported in March include blooms, billets and slab, at 205,877 mt; hot dipped galvanized sheets and strip, at 186,681 mt; OCTG, at 174,107 mt; HRC, at 122,536 mt; CRC, at 101,017 mt; and line pipe, at 76,055 mt.

According to the American Iron and Steel Institute (AISI), the US steel import market share in 15 percent in February, and 17 percent year-to-date. Finished steel imports with large increases in March permits versus the February final imports included oil country goods (up 101 percent), line pipe (up 66 percent), structural pipe and tubing (up 57 percent), tin-free steel (up 47 percent), cold-rolled sheets (up 34 percent), hot-rolled bars (up 34 percent), cut lengths plates (up 28 percent), wire rods (up 21 percent), sheets and strip hot-dipped galvanized (up 14 percent), standard pipe (up 14 percent) and drawn wire (up 14 percent). Products with significant year-to-date increases versus the same period in 2019 include tin-free steel (up 35 percent) and mechanical tubing (up 17 percent), AISI notes.