Total steel imports by the US grew 24.5pc to 20.41mn nt (18.51mn mt) in July-August compared to the same period last year, the American Iron and Steel Institute (AISI) reported, citing the most recent Steel Import Monitoring and Analysis (SIMA) data.
Finished steel imports during the first eight months of the year increased by 26.3pc to 14.15mn nt against the same timeframe in 2020. Of the total imports, the share of finished steel in the January-August period stood at 20pc and was 21pc for August.
However, in August, the US’s import permits declined by 11.4pc to 2.61mn nt against 2.94mn nt in July this year and dropped by 15.3pc from 3.08mn nt—the final July imports reported under SIMA.
Permits for finished steel imports dropped by 1.9pc to 2.04mn nt last month compared to the final imports of 2.08mn nt reported for July.
Still, import permits for some finished steel products rose exponentially in August compared to July final imports and in January-August compared to the same period last year.
|January-August 2021 compared to January-August 2020||hot rolled sheets||83pc|
|light shapes bars||68pc|
|plates in coils||62pc|
|sheets and strip all other metallic coatings||48pc|
|cut lengths plates||44pc|
|heavy structural shapes||26pc|
|hot rolled bars||23pc|
|sheets and strip||23pc|
|hot dipped galvanized||20pc|
|cold rolled sheets||19pc|
|oil country goods||18pc|
|Import permits in August 2021 against Final July 2021 imports||steel piling||263pc|
|structural pipe and tubing||41pc|
|sheets and strip hot dipped galvanized||24pc|
|hot rolled bars||10pc|
For the January-August period, South Korea remained the largest supplier of steel with permits to this country during the annual period up 32pc to 1.85mn nt. Japan followed with a growth of 27pc to 672,000nt, with Germany rounding off the top three exporters with an increase of 18pc to 558,000nt.
South Korea remained the leading exporter of finished steel in August as well, despite a 28pc decline in permits to 215,000nt for this country against final July imports. Permits for Taiwan rose by 35pc to 105,000nt in August, were up 70pc to 86,000nt for the Netherlands, rose 24pc to 83,000nt for Japan, and more than doubled at 78,000nt for China.