US steel imports declined

The total volume of imports of steel and finished steel products in the first nine months of this year amounted to 24,808 thousand tons and 19691 thousand tons, decreasing by 20% and 22%, respectively, compared to the same period in 2015. The share of imports in the US steel market was estimated at 25% in September and 25% in the first nine months of this year.

In September, the largest number of applications for US import permits were from South Korea (288,000 tons, 14% lower than August), Japan (161,000 tons, 9% lower), Turkey (159,000 tons, 12% lower). Germany (113,000 tons, down 12%) and Vietnam (109,000 tons, up 2%).

The main finished steel products with a significant increase in import permits in September this year compared to August are sheets and strips of electrolytically galvanized steel (up to 82%), oilfield products (up to 20%) and sheets and strips with other metal coatings ( up to 15%). Imports of reinforcing bars recorded the largest annualized growth during Jan-Sep '16.

In the first nine months of 2016, the largest overseas suppliers of finished steel to the United States were South Korea (2,994,000 tons, 18% lower than the same period in 2015), Turkey (1,853,000 tons, 9% lower) and Japan (1,403,000 tons. 14% lower).