US steel imports increased to 2.69 million mt in October, up just 0.5% from September, according to preliminary data reported Tuesday by the US Commerce Department. The October total was 6.8% higher than 2.52 million mt in October 2007.All of the September-to-October increase came from imports of semi-finished products (mostly billet and slab) which increased by 7% to 562,140 mt, while imports of finished products declined by 4.5% to 2.13 million mt. For the January-October 2008 period, steel imports are down 5.6%.
The US imported a total of 24.76 million mt this year through October, compared with 26.23 million mt a year ago.The year-to-date trend for semi-finished products is down 5.8%, in line with the overall trend. All flat products are down by 9.1%, while rebar is down by 46.4%. Steel couplings and other products used in the oil and natural gas sector are up by 76.5%.Among finished product imports from January to October, rebar fell by 732,031 mt (-46.4%), while wire rod imports fell by 342,405 mt (-27.1%). Both of these products are subject to high tariffs, and imports were primarily diverted to the Middle East and Europe.
China's total exports of steel products is down about 30% this year, but exports to the US have increased in each of the past two months. October steel imports from China were up 25% sequentia lly, after a 15% increase in September. For the January-October 2008 period, China shipped 3.38 million mt of steel products to the US. That's only 9% lower than 3.72 million mt in 2007.Steel imports from the European Union were 3.30 million mt, or 15% lower than a year ago. South American shipments fell 44%, settling at 1.35 million mt compared with 2.40 million mt a year ago.
The US imported a total of 24.76 million mt this year through October, compared with 26.23 million mt a year ago.The year-to-date trend for semi-finished products is down 5.8%, in line with the overall trend. All flat products are down by 9.1%, while rebar is down by 46.4%. Steel couplings and other products used in the oil and natural gas sector are up by 76.5%.Among finished product imports from January to October, rebar fell by 732,031 mt (-46.4%), while wire rod imports fell by 342,405 mt (-27.1%). Both of these products are subject to high tariffs, and imports were primarily diverted to the Middle East and Europe.
China's total exports of steel products is down about 30% this year, but exports to the US have increased in each of the past two months. October steel imports from China were up 25% sequentia lly, after a 15% increase in September. For the January-October 2008 period, China shipped 3.38 million mt of steel products to the US. That's only 9% lower than 3.72 million mt in 2007.Steel imports from the European Union were 3.30 million mt, or 15% lower than a year ago. South American shipments fell 44%, settling at 1.35 million mt compared with 2.40 million mt a year ago.
