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Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,292,000 net tons (NT) of steel in March 2021, including 1,774,000 net tons (NT) of finished steel (up 20.7% and 23.6%, respectively, vs. February final data). Through the first three months of 2021, total and finished steel imports are 6,613,000 and 4,447,000 net tons (NT), up 3.1% and down 1.4%, respectively, vs. the same period in 2020. Annualized total and finished steel imports in 2021 would be 26.5 and 17.8 million NT, up 20.1% and 10.2%, respectively, vs. 2020. Finished steel import market share was an estimated 19% in March and is estimated at 18% over the first three months of 2021.

 

Key finished steel products with a significant increase in imports in March compared to February are sheets and strip all other metallic coatings (up 171%), reinforcing bars (up 66%), hot rolled bars (up 58%), oil country goods (up 45%), sheets and strip hot dipped galvanized (up 43%), cut lengths plates (up 33%), mechanical tubing (up 27%), wire drawn (up 27%), standard pipe (up 25%), tin plate (up 19%) and  wire rods (up 19%). Products with a significant year-to-date (YTD) increase vs. the same period in 2020 were tin plate (up 26%), sheets and strip all other metallic coatings (up 22%), reinforcing bars (up 19%), cut lengths plates (up 19%), hot rolled sheets (up 17%) and wire drawn (up 10%).

 

In March, the largest volumes of finished steel imports from offshore were from South Korea (239,000 NT, up 4% from February final), Taiwan (88,000 NT, up 162%), Japan (85,000 NT, down 3%), Germany (82,000 NT, up 27%) and Turkey (43,000 NT, down 45%). For the first three months of 2021, the largest offshore suppliers were South Korea (601,000 NT, up 10% vs. the same period in 2020), Japan (219,000 NT, up 8%), Turkey (201,000 NT, up 29%), Germany (170,000 NT, up 1%) and Taiwan (149,000 NT, up 9%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.