US finished steel imports up 27pc through April

OREANDA-NEWS. US imports of finished steel rose by 27pc in the first four months of the year, led by increased shipments from Brazil, Turkey and South Korea.

Imports of finished steel products rose to 12.6mn short tons (11.4mn metric tonnes) from 9.9mn st a year earlier, the American Iron and Steel Institute (AISI) said, citing preliminary US Census Bureau data. Shipments fell by 7.8pc to 2.94mn st in April from March.

Total steel imports, including crude and finished steel, rose by 12.9pc to 15.2mn st in the January-April period from 13.5mn st a year earlier, AISI said. Total imports fell by 3.7pc to 3.48mn st in April from the prior month.

Imported finished steel goods accounted for an estimated 33pc of the US market share of finished products in the four-month period, the group said.

Finished imports from South Korea rose by 52pc to 2.4mn st in the period, while shipments from Turkey gained 98pc to 1.2mn st. Shipments from China, the main target of US steelmakers' complaints, added a more modest 7.7pc to 1mn st.

Finished imports from Brazil surged by 160pc to 499,000st and shipments from Germany rose by 44pc to 543,000st from the same four months last year.

Imports of oil country goods rose by 22.6pc to 1.44mn st in the four month period. They fell by 19.2pc at 239,138st in April from the prior month, reflecting the effects of weakened oil prices on demand for oil drilling tubing.

Imports of hot rolled sheet were up by 16.5pc to 1.42mn st and imports of cold rolled sheet rose by 30.9pc to 1mn st. Heavy structural shapes imports rose by 81pc to 374,714st and standard pipe shipments gained 49pc to 386,007st.

US steelmakers including US Steel, Nucor and others allege that subsidies and other market-distorting policies by China and other government have caused global steelmaking overcapacity to balloon to an estimated 600mn st/yr.

US Steel has made a series of closures and temporary idlings this year, affecting about 9,000 workers. They include idling the Granite City Works in Illinois, closing the Gary Works coke plant and idling tubular and other operations in Texas, Alabama and elsewhere, along with partial idlings of its iron ore operations.

Steel Dynamics yesterday said it was idling its iron ore production facilities in Minnesota, laying off about 200 employees.