March 24th, 2020

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 1,505,000 net tons (NT) of steel in February 2020, including 1,344,000 net tons (NT) of finished steel (down 52.2% and 18.4%, respectively, vs. January final data). Through the first two months of 2020, total and finished steel imports are 4,655,000 and 2,992,000 net tons (NT), down 21.3% and 28.7%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 27.9 and 18.0 million NT, unchanged and down 14.7%, respectively, vs. 2019. Finished steel import market share was an estimated 15% in February and is estimated at 16% over the first two months of 2020.

Key finished steel products with a significant import increase in February compared to January are heavy structural shapes (up 57%) and tin plate (up 15%). A product with a significant year-to-date (YTD) increase vs. the same period in 2019 was mechanical tubing (up 12%).

Source: American Iron and Steel Institute