USA Steel Imports permit applications in the United States fell 12.3% to 2 million tons in June as the coronavirus crimped demand.
It was, however, a 10.9% increase from the 1.8 million tons of steel the United States imported in May, according to the U.S. Commerce Department’s most recent Steel Import Monitoring and Analysis data.
Last month, permits for finished steel products that would require no further processing in the United States, such as at service centers or the 20 steel companies at the Port of Indiana-Burns Harbor, fell 5.7% to 1.4 million tons, down from 1.5 million tons in May. In June, imports of light shapes bars rose by 77%, sheets and strip hot dipped galvanized by 68%, cold finished bars by 55%, line pipe by 39% and structural pipe and tubing by 19%.
So far this year, imports of light shapes bars are up 25% and tin free steel by 20% year-over-year, according to the American Iron and Steel Institute.
USA Steel Imports
For the first six months of the year, imports of steel fell 16.9% to 12.9 million tons. Imports of finished steel products plunged 25.3% to 8.7 million tons, capturing 21% of the market share in the United States.
So far this year, imports have grabbed 19% of the market share.
The largest offshore suppliers in June were South Korea, Brazil, Taiwan, Germany and Japan. During the first six months of 2020, imports have fallen 21% from South Korea, 41% from Japan, and 40% from Germany.
Steel production by domestic producers like ArcelorMittal USA and U.S. Steel, two of the Region’s largest employers, have fallen by 19% thus far this year, according to the American Iron and Steel Institute.
