AISI: Preliminary Steel Import Volumes Up Nearly 50% From 2020
Citing early Commerce Department data, the American Iron and Steel Institute (AISI) said that year-end import volumes of finished steel products also appeared to be up significantly from the prior year, reaching 23.8 million net tons, or 47.6% more than in 2020. At the close of 2021, the estimated import market share of finished goods stood at 22%, according to the preliminary data.
Total 2021 imports of hot-rolled sheets and plate-in-coils made triple-digit jumps from year-ago levels, increasing 129% and 103%, respectively, AISI said.
South Korea appeared to be the largest overseas exporter of finished steel to the U.S. in 2021 at an estimated 2.8 million net tons, an increase of 39% from 2020. Japan and Turkey came in second and third place, with each country exporting around 1 million net tons, AISI said.
AISI also reported the monthly numbers from December 2021. The U.S. imported 2.9 million net tons in the month of December, inching up 6.3% from the November totals.
Read the full press release from AISI here.