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

US steel imports increased 19.6pc to 1.5mn nt (1.36mn mt) in October 2020, including 1.24mn nt of finished steel, representing a 6.6pc gain over September’s final data, according to the American Iron and Steel Institute (AISI).


In January-October, total US steel imports fell 22.8pc to 19.15mn nt while total finished steel imports declined by 25.9pc to 13.61mn nt compared to the same period in 2019. Total steel imports decreased 17.7pc to 23mn nt in October, compared to 28mn nt in October 2019. Finished steel imports dropped 22.4pc to 16.3mn nt over 21.1mn nt in the same period. The US’ market share for finished steel imports is assessed at 18pc in October. 


The main increases in October of finished steel imports include oil country goods, up 105.9pc compared to September; reinforcing bars, increased 95.4pc; cold rolled sheets, up 41.2pc; heavy structural shapes, increased 37.1pc; wire rods, up 35.8pc; hot rolled bars, rose 31.3pc.


In the first ten months of 2020, the largest exporters to the US were South Korea at 1.66mn nt, down 25pc; Japan at 665,000nt, down 39pc; Germany at 592,000nt, falling by 35pc; Turkey at 496,000nt, increased by 75pc; and Taiwan down by 37pc to 487,000nt, all compared to the same 2019 period.


The highest October volumes of offshore, finished steel imports were from South Korea at 146,000nt, rising 17pc against the preceding month.; Japan at 78,000nt, up 32pc; Turkey at 68,000nt rising 943pc; Germany with 67,000nt, up 31pc; and Brazil at 34,000nt, increased 5pc.


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