US finished steel imports rise significantly in July

According to the latest Steel Import Monitoring and Analysis (SIMA) data released by the US Department of Commerce, total steel imports totaled 17.729 million net tonnes in the first seven months of this year. This is significantly higher by 17.4% compared to imports for the corresponding period of 2020. Imports of finished steel also rose 20.6% year-on-year to 12.086 million net tonnes in Jan-Jul 21.

Finished steel products, which showed the largest increase in imports, is hot-rolled sheet, the imports of which in January-July 21 grew by almost 76% compared to the same period last year. Imports of sheet in coils and flat products increased by 52% and 44%, respectively. Other products that saw a significant increase in imports were sheet and strip with other metal coatings and wire rod, which increased by 41% and 40%, respectively, the American Iron and Steel Institute (AISI) reported.

During an initial seven-month period in 2021, South Korea was the largest offshore steel supplier to the United States. Deliveries from this country increased by 7% compared to the same period last year and amounted to 1.624 million net tons. The second largest supplier was Japan with a total supply of 590,000 net tonnes, followed by Turkey with 485,000 net tonnes.