Steel Products Prices North America
Steel Imports Jump 7.1% Through May
Written by Tim Triplett
June 25, 2021
U.S. steel imports through the first five months of 2021 totaled 11,780,000 net tons, a 7.1% increase from the same period last year, based on preliminary Census data reported by the American Iron and Steel Institute (AISI). Of that, finished steel imports amounted to 7,966,000 tons, an 8.8% increase, as buyers in the U.S. were forced to place more foreign orders when domestic supplies fell short of their needs.
The U.S. imported 2,513,000 net tons of steel in May, including an 11.3% increase in finished steel imports versus the prior month to 1,845,000 tons.
Annualized, total steel imports are on track to rise by 28.4% and finished steel imports by 18.5%, according to AISI’s calculation. Market share of finished steel imports in May was an estimated 20%.
Key finished steel products that have seen significant increases in imports year to date include hot rolled sheets (up 42%), sheets and strip all other metallic coatings (up 30%), cut-length plates (up 30%), plates in coils (up 28%), tin plate (up 17%), wire drawn (up 16%), and sheets and strip galvanized hot dipped (up 12%).
Tim Triplett
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