US steel imports fell 11%

The American Iron and Steel Institute (AISI) reported a marked reduction in steel imports to the country during 2018. Imports recorded a sharp decline of 11% over the previous year.

According to the latest data, the country's steel imports amounted to 31.834 million tons, of which 24.016 million tons were finished steel. In addition, the market share of finished steel imports was estimated at around 23% until November 2018.

According to current estimates, total annual US finished steel imports were about 34.7 million tonnes, significantly less than a year earlier.

The US imported 67% more heavy structures in November 2018 compared to the previous month. Another type of finished steel product that has witnessed a notable increase in imports was wire rod, the imports of which increased by 57%. During November 2018, hot-rolled sheets and rolled coils showed annual imports growth of 22% and 16%, respectively.

South Korea continued to be the single largest supplier of finished steel products to the country during 2018.