October steel imports increased 13% from September

Census says imports are 30% lower than year ago

By Tom Stundza -- Purchasing, 11/28/2007 10:25:00 AM

Preliminary October steel import data released Tuesday by the U.S. Census Bureau, shows that imports were 2.4 million metric tons valued at $2.3 billion. This compares with the final September totals of 2.2 million metric tons valued at $2.1 billion.

Despite the monthly rise in imports, October’s steel imports are down 30% from the same month a year ago. The falling U.S. dollar and existing trade actions make it unattractive to ship steel to the U.S. Lower imports make it easier for the domestic mills to support or even increase prices.

The year-to-date-final data through September 2007 showed steel imports of 23.7 million metric tons compared to 31.7 million metric tons through September 2006, reflecting a decline of 25%.

The September-to-October change in steel imports reflects an increase primarily in semi-finished blooms, billets and slabs, which more than doubled to 712,694 metric tons, according to Census data. Monthly changes in steel imports reflected increases primarily from Brazil (+142%) and Canada (+23%).

Hot rolled sheet imports declined 9.6% compared to last month and 53.3% versus October 2006. Rebar imports were down 51.7% sequentially and 61.4% year over year. Merchant bar imports rose 0.4% versus last month but fell 7.6% compared to last year. Wire rod imports decreased 22.3% from last month and 70.1% from last year. Structural steel imports were up 11.8% sequentially but down 13.7% year over year.