Steel Imports Fall 15 Percent in 2016

  • 12-Jan-2017
  • Steel Imports Fall 15 Percent in 2016

Steel imports fell 15 percent in 2016, according to the U.S. Commerce Department’s Steel Import Monitoring and Analysis data.

The American and Iron Institute estimated the United States imported 32.9 million tons of steel last year. For context, U.S. steelmakers made 87.9 million tons of steel in 2016, a 0.5 percent year-over-year decline.

Imports of finished steel, which requires no further processing in the United States and supports no jobs here, dropped 16.7 percent to 26.2 million tons in 2016. 

Finished steel imports grabbed 26 percent of the market share, down from a record 29 percent in 2015.

In December, imports declined 9.6 percent to 2.6 million tons. Over the same period, imports of finished steel dropped 3 percent to 2 million tons.

Steel piling shot up 410 percent and standard rails skyrocketed 164 percent in December. 

Oil country goods, tin plate, line pipe, and sheets and strip galvanized hot dipped all also posted double-digit gains last month, and imports of tin plate were up 15 percent year-over-year in 2016.

South Korea, Turkey and Japan sent over more steel to the United States than any other countries in 2016. 
Imports however declined 22 percent from South Korea, 14 percent from Turkey and 20 percent from Japan last year, as compared to 2015. South Korea sent over 3.7 million tons of steel in 2016, including 238,000 tons in December, more than any other country.

The United States, which now imposes more than 160 different tariffs on foreign-made steel, got 52,769 tons of steel from China in November, the most recent month for which data was available.

China, often a scapegoat for domestic steelmakers and the subject of many tariffs, ranked as the seventh biggest offshore supplier of the steel imports last year, AISI spokesman Evan Martinez said.

Source: Nwitimes.com

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