Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Imports of steel into the US fell by 35.5pc in the first five months of the year to 10.98mn nt (9.96mn mt) compared to the same period in 2019.


According to the American Iron and Steel Institute (AISI), which cited Census Bureau data, the US imported a total of 1.79mn nt of steel in May, while finished steel imports rose 13.2pc to 1.49mn nt in May over April. 


In Jan-May 2020, the US imported 7.3mn nt of finished steel a decrease of 13.2pc over the prior year period. 


Unfinished steel imports in May dropped by 79pc over April from 1.46mn nt to 304,992nt. However, for the first five months of 2020, unfinished steel imports rose by 1.1pc to 3.66mn nt from the prior year period.


Market share for finished steel imports was estimated 23pc of the overall steel imports in May and 18pc over the first five months of 2020. 


The country increased its imports of oil country goods, standard pipe, heavy structural shapes, tin plates, and hot rolled bars, all up 71pc, 44pc, 37pc, 31pc, and 28pc, respectively, compared with the April. 


In May, South Korea remained the largest importer of finished steel taking shipments of 229,000nt, up 42pc from April, followed by Japan (103,000nt – up 50pc), and Turkey (85,000nt – up 61pc).


For Jan-May 2020, the largest offshore suppliers were South Korea (937,000nt – down 27pc from prior year period), Japan (373,000nt – down 39pc) and Germany (298,000t, down 42pc).

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