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Steel imports plunged by 26% in September

Nov 2,2018

Steel imports fall by 26% in September as tariffs continue on foreign-made steel. The United States imported 2.24 million tons of steel in September, according to preliminary U.S. Census Bureau data. Out of which 1.8 million tons of finished steel products that require no further processing were imported, an 8.6% decline as compared to August.

 

Imports of finished steel totaled to about 20% of the market share in September and 24% from January to October, which is significantly low, mainly due to the 25% across-the-board tariffs that make foreign steel more expensive.

 

The United States has imported 26.1 million tons of steel in the first 9 months of the year, down 12% as compared to the same period in 2017, according to the American Iron and Steel Institute. It imported 20 million tons of finished steel, a 12.5% year-over-year decline.

 

The largest offshore suppliers of steel have been South Korea, Japan, Germany, Turkey, and Taiwan. In September, imports rose 9% from South Korea, 12% from Turkey, 4% from Germany and 29% from Taiwan, while declining 11% from Japan.

 

In September, imports of standard pipes rose by 26%, hot rolled sheet by 25%, and sheets and strip all other metallic coatings by 23%. So far this year, imports of hot-rolled sheet-plates in coils are each up by 21%.