Steel Imports Down 20% Year-to-Date Through April 2020
May 27th, 2020
The American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,773,000 net tons (NT) of steel in April 2020. This includes 1,309,000 net tons of finished steel which is up 58.2% and down 13.5%, respectively, vs. March 2019. Through the first four months of 2020, total and finished steel imports are 9,185,000 and 5,819,000 net tons. This is down 20.3% and 28.2%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 27.6 and 17.5 million NT, down 1.4% and 17.1%, respectively, vs. 2019. Finished steel import market share was an estimated 21% in April. Steel import market share is estimated at 18% over the first four months of 2020.
Key finished steel products with a significant increase in imports in April compared to March are heavy structural shapes (up 57%), reinforcing bars (up 54%), sheets and strip all other metallic coatings (up 31%) and tin plate (up 14%).
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