Source: Scrap Monster
The latest data published by the U.S. Census Bureau indicates that year-to-date steel imports through February 2020 by the country edged higher significantly in comparison with the previous year.
According to the American Iron and Steel Institute (AISI), the U.S. imported a total of 4.655 million net tons of steel in the opening two months of 2020, out of which finished steel comprised of 2.992 million net tons. Upon comparison with the corresponding period in 2019, the total and finished steel imports by the country were down sharply by 21.3% and 28.7% respectively. The key product to witness significant year-to-date increase in imports was mechanical tubing, whose imports surged higher by 12% from the previous year, AISI data said.
The total and finished steel imports in February 2020 totalled 1.505 million net tons and 1.344 million net tons respectively. The total steel imports dropped by 52.2% from January final imports, whereas finished steel imports were down by 18.4%. The import volumes of heavy structural shapes and tin plates surged higher significantly by 57% and 15%, compared to January 2020 imports.