Steel Imports Down 22% Year-to-Date Through March

Washington, D.C. – Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 1,750,000 net tons (NT) of steel in March 2020, including 1,511,000 net tons (NT) of finished steel (up 15.9% and 12.1%, respectively, vs. February final data). Through the first three months of 2020, total and finished steel imports are 6,410,000 and 4,507,000 net tons (NT), down 21.7% and 25.6%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 25.6 and 18.0 million NT, down 8.2% and 14.4%, respectively, vs. 2019. Finished steel import market share was an estimated 17% in March and is estimated at 17% over the first three months of 2020.

Key finished steel products with a significant import increase in March compared to February are oil country goods (up 129%), line pipe (up 93%), structural pipe and tubing (up 52%), cold rolled sheets (up 30%), wire rods (up 22%), hot rolled bars (up 18%), wire drawn (up 14%) and standard pipe (up 13%). A product with a significant year-to-date (YTD) increase vs. the same period in 2019 was mechanical tubing (up 16%).