With tariffs of 25% in place on most foreign-made steel products, steel imports in the United States have declined by 17% year-over-year to 26.3 million tons through the end of November.That includes 19.6 million tons of finished steel products that would require no further processing at U.S. facilities, such as the 20-odd steel companies at the Port of Indiana-Burns Harbor, or about 18.1% less than during the first 11 months of 2018, according to preliminary U.S. Census Bureau data.The Washington D.C.-based American Iron and Steel Institute reported that the United States imported 1.54 million tons of foreign steel in November, a 29.9% decrease. Imports of finished steel products dropped 12% to 1.31 million tons in November.In November, imports of cut length plates were up 46% as compared to October, hot rolled bars by 24%, standard pipe by 13% and line pipe by 12%. That month, imports rose 11% from South Korea, 14% from Japan and 131% from the Netherlands, while falling 30% from Germany and 21% from Taiwan.
During the first 11 months of the year, imports fell 10% from South Korea, 9% from Japan, 21% from Germany, 21% from Taiwan, and 36% from Vietnam, according to the American Iron and Steel Institute.South Korea, whose companies have automotive plants in the United States, is by far the biggest offshore supplier of steel to the United States, sending more than 2.4 million tons of steel through the first 11 months of the year.Imports of finished steel products grabbed 15% of the U.S. market share in November and 19% so far this year, according to the AISI.
Source:https://www.nwitimes.com/business/local