US Steel Imports in January-August 2021 Surge by 25% YoY
By Strategic Research Institute on Sep 09, 2021 09:21 am
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of August totalled 2,608,000 net tons. This was an 11.4% decrease from the 2,944,000 net tons permit tons recorded in July and a 15.3% decrease from the July final imports total of 3,078,000 net tons. Import permit tonnage for finished steel in August was 2,042,000 net tons, down 1.9% from the final imports total of 2,081,000 net tons in July. For the first eight months of 2021, total and finished steel imports were 20,405,000 net tons and 14,149,000 net tons, up 24.5% and 26.3%, respectively, from the same period in 2020. The estimated finished steel import market share in August was 21% and is 20% year-to-date.
Finished steel imports with large increases in August permits vs. the July final imports include steel piling up 263%, structural pipe and tubing up 41%, line pipe up 27%, sheets and strip hot dipped galvanized up 24%, tin plate up 21%, mechanical tubing up 18% and hot rolled bars up 10%.
Products with significant year-to date increases vs. the same period in 2020 include hot rolled sheets up 83%, light shapes bars up 68%, plates in coils up 62%, sheets and strip all other metallic coatings up 48%, wire rods up 46%, cut lengths plates up 44%, heavy structural shapes up 26%, wire drawn up 23%, hot rolled bars up 23%, sheets and strip hot dipped galvanized up 20%, cold rolled sheets up 19%, tin plate up 19% and oil country goods up 18%.
In August, the largest finished steel import permit applications for offshore countries were for South Korea 215,000 net tons down 28% from July, Taiwan 105,000 net tons up 35%, The Netherlands 86,000 net tons up 70%, Japan 83,000 net tons up 24% and China 78,000 net tons up 126%.
Through the first eight months of 2021, the largest offshore suppliers were South Korea 1,845,000 net tons up 32% YoY, Japan 672,000 net tons up 27% and Germany 558,000 net tons up 18%.