US finished steel imports projected to decline in 2021

The American Iron and Steel Institute (AISI) predicts a significant reduction in the country's finished steel imports this year. The estimates provided by the association are based on import trends during the initial monthly period of the year.

The country is likely to see a 7.9% decline in finished steel imports for the whole of 2021. It is estimated that the total annual imports of finished goods are likely to be 14.871 million net tonnes in 2021. US finished steel imports hit 16.139 Mt Meanwhile, total steel imports are likely to rise 32.0% from 22.019 Mt net in 2020 to 29.065 Mt net this year, AISI reported.

AISI predicts a moderate to sharp decline in imports of large quantities of metal products throughout the year. Tinplate imports are likely to experience the largest decline, falling more than 58% from the previous year. Imports of line pipes and cold-rolled sheets may decline by 37.8% and 34.1%, respectively. On the other hand, imports of ingots, billets and slabs are expected to grow significantly by 142% year on year in 2021.

Imports of finished steel products from Turkey are likely to grow by 74.1% in 2021. In contrast, AISI predicts a nearly 28% decline in finished goods imports from Japan over the course of the year.