US steel imports from Vietnam could almost double

The American Iron and Steel Institute (AISI) predicts a significant jump in the country's finished steel imports this year. The estimates provided by the association are based on import trends during the first five months of the current year.

Throughout 2021, the country is likely to see an 18.5% increase in finished steel imports. It is estimated that the total annual imports of finished goods are likely to be 19.119 million net tonnes in 2021. US finished product imports totaled 16.139 million tonnes Meanwhile, total steel imports are likely to rise 28.4% from 22.019 million tonnes in 2020 to 28.271 million tonnes this year, AISI reported.

Imports of ingots, billets and slabs are likely to show the largest year-on-year growth, a significant increase of 55.7% over the prior year. Imports of long and hot rolled sheets are likely to grow by 48.4% and 47.5%, respectively. It is also expected to increase imports of sheet in rolls by 43.4% compared to the same period last year. The only commodities likely to face a drop in imports are linear and standard pipes, imports of which are expected to decline by 12.2% and 7.9%, respectively.

Imports of finished metal products from Vietnam are likely to grow the most - by 49.4%. In contrast, AISI predicts a nearly 21% decline in finished goods imports from Brazil in 2021.