Steel imports are down 21.9% through the first nine months of 2020 after the coronavirus pandemic sent shock waves through the U.S. economy.
The United States imported 1.25 million tons of steel in September, down 2.8% as compared to August, according to the American Iron and Steel Institute. Imports of finished steel products that would require no further processing in the United States, such as at service centers at the Port of Indiana-Burns Harbor, fell 1.1% as compared to August to 1.16 million tons in September.
Imports grabbed 16% of the U.S. market share in September and have taken 18% of the market this year, according to the Washington D.C.-based trade association The American Iron and Steel Institute.
The United States has imported 17.6 million tons of steel during the first nine months of the year, down 21.9% as compared to the same period in 2019. Finished steel imports have fallen 26.7% to 12.3 million tons. The United States is on pace to import 23.5 million tons of steel this year, including 16.5 million tons of already finished steel products.
In September, imports of heavy structural shapes rose by 114% as compared to August, hot rolled sheets by 41%, plates in coils by 28%, sheets and strip all other metallic coatings by 19%, tin plate by 11% and sheets and strip hot dipped galvanized by 10%.
Last month, the United States imported 124,000 tons pf steel from South Korean, an 11% increase; 58,000 tons from Taiwan, a 73% increase; 52,000 tons from Germany, a 3% increase; and 33,000 tons from The Netherlands, down 10%, according to The American Iron and Steel Institute.
Source : https://www.nwitimes.com/steel-imports-down