A report by the American Iron and Steel Institute was released today showing that there was a 18% decline in may, 2008 steel imports over april, 2008.  The U.S. importred a total of 2,451,000 (NT) of steel in may 2008, including 1,998,000 (NT) of finished steel.  For the first 5 months of 2008 total and finished steel imports are down by 11% and 14%, respectively vs the same period in 2007.  However, in the most recent 3 months March-May 2008 is up 10% vs the monthly average in the previous 3 months (Dec. 2007 – Feb. 2008)

us steel imports may 2008 May 2008 US Imports Down 18 Percent vs. April

Total and finished steel imports on an annualized basis this year are down 5 percent and 6 percent, respectively, vs. 2007. On an annualized basis, total imports of steel in 2008 would be 31.6 million NT. Key products with large increases in May compared to the month before include: Sheet & Strip Galvanized Hot Dipped (up 89%), Oil Country Goods (up 21%), Heavy Structural Shapes (up 15%) and Cold Rolled Sheets (up 10%). For the first five months of 2008, products showing significant increases vs. the same period in 2007 included Oil Country Goods (up 17%) and Line Pipe (up 16%).

 

  us may 2008 finished steel imports by country of orgin May 2008 US Imports Down 18 Percent vs. April

For May, the largest volume of finished steel imports from offshore was from China (287,000 NT, up 59% from April), which recorded its highest monthly volume of the year. Much of this tonnage was in high-value steel products still receiving government export tax rebates (e.g., OCTG, line pipe and hot-dipped galvanized sheet). Other major offshore suppliers in May included South Korea (199,000 NT, down 6% from April), Japan (118,000 NT, down 30%), India (96,000 NT, up 16%) and Germany (81,000 NT, down 44%). Below is a summary chart of finished imports by country.